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Proton is a possible new buyer for BMW......... anything can happen
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<blockquote data-quote="anaksarawak" data-source="post: 12605" data-attributes="member: 4851"><p>Anything can happen now...Ford completes sale of Jaguar, Land Rover to Tata MotorsFord completes sale of Jaguar, Land Rover to Tata MotorsFord Motor Co has completed the sale of its storied Jaguar and Land Rover businesses to India's Tata Motors Ltd.Tata said it has closed on the deal first announced on Mar 26. Tata is paying about US$2.3bil for the British brands, but Ford is paying about US$600mil into the Jaguar-Land Rover pension fund. Say hello, wave goodbye ... The sale nets the Dearborn-based automaker US$1.7bil - roughly a third of the price it paid for the two luxury brands. Ford bought Jaguar for US$2.5bil in 1989 and Land Rover for US$2.7bil in 2000.The sale had been in the works for months as cash-strapped Ford sought money to fund its turnaround plan.Meanwhile, Tata Motors named David Smith as the new CEO for Jaguar and Land Rover. A veteran Ford finance and strategy expert, Smith is Jaguar and Land Rover's chief financial officer. He has been the company's acting CEO since the Apr 20 death of CEO Geoff Polites. - AP</p></blockquote><p></p>
[QUOTE="anaksarawak, post: 12605, member: 4851"] Anything can happen now...Ford completes sale of Jaguar, Land Rover to Tata MotorsFord completes sale of Jaguar, Land Rover to Tata MotorsFord Motor Co has completed the sale of its storied Jaguar and Land Rover businesses to India's Tata Motors Ltd.Tata said it has closed on the deal first announced on Mar 26. Tata is paying about US$2.3bil for the British brands, but Ford is paying about US$600mil into the Jaguar-Land Rover pension fund. Say hello, wave goodbye ... The sale nets the Dearborn-based automaker US$1.7bil - roughly a third of the price it paid for the two luxury brands. Ford bought Jaguar for US$2.5bil in 1989 and Land Rover for US$2.7bil in 2000.The sale had been in the works for months as cash-strapped Ford sought money to fund its turnaround plan.Meanwhile, Tata Motors named David Smith as the new CEO for Jaguar and Land Rover. A veteran Ford finance and strategy expert, Smith is Jaguar and Land Rover's chief financial officer. He has been the company's acting CEO since the Apr 20 death of CEO Geoff Polites. - AP [/QUOTE]
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