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Tata bid for Jaguar-Land Rover is worth over $2.05 bln

The Indian business paper Economic Times yesterday reported that Tata Motors, widely reckoned to be the front runner, had bid over $2.05 billion for Land Rover and Jaguar, while its Indian rival Mahindra had bid $1.9 billion.

Fortune magazine meanwhile reported that the head of Jaguar’s US dealer council favored the bid from One Equity Partners, led by former Ford CEO Jac Nasser, due to his concern that „the American public won’t accept a luxury-car brand such as Jaguar ‘out of India’.” The Economic Times also suggested the prospective Jaguar-Land Rover sale agreement will involve as many as 30 side agreements, covering issues including staff retention and engine supply from Ford for up to five years. (