Tata seeks $3bn in loans for Jaguar, Land Rover takeover

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.

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(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.

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