Tata Motors is seeking loans of about $3bn to fund its planned purchase of Ford Motor Co’s luxury UK brands Jaguar and Land Rover. Tata has assigned Citigroup and JPMorgan, its financial advisers on the acquisition.
(Jaguar XK Convertible in Liquid Silver – Photo Credit: jaguar)
India’s Tata Motors is expected to sign a memorandum of understanding in the next two weeks, reported reuters on Friday. The loan, expected to be mostly short-term bridge financing, is larger than the expected purchase price.