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TATA Out to buy Jaguar and Land Rover |
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Written by Rasesh Tanna
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Friday, 31 August 2007 |
TATA is now looking to add more strenght to its auto lineup. After bolstering its steel arm with the acquisition of Corus, the Motors division is looking to buy Jaguar and Land Rover. This takeover would mean that TATA will now have a better presence in the world market, till now they have only been able to be successful in the Indian market with 90% of the sales inland.
The news is not all great for TATA, the private equity groups-Cerberus Capital Management LLC, Ripplewood LLC and One Equity Partners LLC are also looking at this acquisition with seriousness.
Ford, which lost $12.7 billion in 2006, has been looking to sell its Jaguar and Land Rover units to avoid further losses. It will be interesting to keep an eye on this development.
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