MUMBAI/LONDON–Indian automobile giant Tata Motors Ltd shows its presence at international level by acquiring the British luxury car units,Jaguar and Land Rover from the US carmaker Ford.Tata has to pay $2.3 billion for the purchase of these luxury brands,where as Ford has to pay $600 million to the pension fund of Jaguar-Land Rover.

Tata has been discussing with Ford since it leads the race to buy Jaguar and Land Rover.The sale was confirmed by Tony Woodley,joint leader of Unite,the largest trade union of Britain, which had backed the Indian automobile giant in its bid.

“Tata views this deal in positive terms as it is able to make an international presence, instead of being a company which focuses only on its home market,”said Mohit Arora,the managing director for India at J.D. Power Asia-Pacific. (more…)