Tata mulls Jaguar, Land Rover buy

• IBTimes RSS
• Print
• E-Mail
• digg
• Del.icio.us

Sources also said Mahindra & Mahindra (M&M), India's leading manufacturers of general-purpose utility vehicles and light commercial vehicles, and some other private equity players might also be interested in these brands.

However, industry analysts feel that Mahnidra & Mahindra might not be very keen, as Jaguar and Land Rover might not fit into its overall plan.

M&M officials have refused to comment on whether it was interested in bidding.

According to the Daily Telegraph, analysts have suggested that Jaguar and Land Rover sale may fetch at least $1.5 billion (£735 million) to Ford.

Ford has reportedly asked Goldman Sachs, Morgan Stanley and HSBC to advise on the sale.

Private equity firms Apollo Management, Cerberus Capital Management, Blackstone Group and Alchemy Partners have reportedly shown interest in the Jaguar-Land Rover deal.

Industry watchers claim that if Tata is successful, the deal would rank among India's biggest overseas takeover deals. The Tata Group, which has been involved in major overseas takeovers in recent times, including the £6.7 billion acquisition of Anglo-Dutch steel company Corus through Tata Steel earlier this year, reported revenues of $21.9 billion in 2005-06.

Tata Motors, which listed on the NYSE in 2004, has been making rapid strides for a greater share of the global auto business.

It has a partnership with Fiat that gives it access to the Italian auto major's world-class powertrains for its next generation car offerings and also helps it penetrate foreign markets.

The company also acquired a 21 percent stake in Spanish bus company Hispano Carrocera in 2005 and also has a joint venture with Brazil's Marco Polo for buses and coaches.

• 1
• 2
• 3