Tata Motors to seal Jaguar-Rover deal

The D-day is inching closer for Tata Motors. According to sources close to the development, India’s largest commercial vehicle company is likely to ink the Jaguar-Land Rover deal with Ford on March 26. Ford is scheduled to make the announcement on engines, pensions and other long-term agreements on that day, the sources said, adding that completion of the agreement, however, is scheduled to take two to three months as it is bound by regulatory approvals. However, since Jaguar and Land Rover workers are on an extended Easter holiday, the announcement on the agreement would be made only on Wednesday.

A Tata Motor spokesperson said discussions are still going on and refused to put a date on the announcement. Tata Motors chairman Ratan Tata will lead the Tata delegation and Lewis Booth, executive V-P of Ford, will head the UK team to sign the deal. As part of the agreement, Tata Motors has agreed to retain the two UK manufacturing plants and the 16,000 odd employees. Ford has also entered into a long-term agreement, which will go beyond 2011, to supply Jaguar and Land Rover engines to Tata Motors.