From Kyodo News
NEW YORK — Ford Motor Co. said Thursday that India’s Tata Motors Ltd. is the preferred buyer for its luxury Jaguar and Land Rover brands.
"Ford is committed to focused negotiations at a more detailed level with Tata Motors concerning the potential sale of the combined Jaguar Land Rover business," Lewis Booth, executive vice president of Ford of Europe and Premier Automotive Group, said in a statement.
The deal, if struck, is expected to reach around $2 billion, reports said.
"There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned," Booth said.
(C) 2008 Kyodo News. All Rights Reserved
