Ford to announce sale of Jaguar and Land Rover

Ford Motor is to announce the sale of its luxury Jaguar and Land Rover brands to Tata Motors as early as March 5.

Ford has been exploring the possible sales of the two brands since June 2007.

The deal is set to proceed after Indian carmaker Tata met with a Ford UK labour union last week.

Tata is India’s top vehicle maker and has been in discussions with US carmaker Ford since it was chosen as the front-runner to buy the units at the start of 2008. Other bidders included fellow Indian carmaker, Mahindra & Mahindra, and investment firm OneEquity.

Late last week, Labour union Unite said it had held constructive talks with Tata over its planned acquisition of Jaguar and Land Rover.

Unite is the main union representing workers at Land Rover and Jaguar and has about 12,000 members there.

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