Tata Buys JLR

It’s official. Tata Motors is the new owner of the two Brit luxury car brands. Tata will shell out $2.3 billion for the two companies. This by the way is less than what Ford paid for either when it bought them.

The deal though is expected to be completed by the second quarter of the current fiscal. The two companies were put up for sale by Ford in September last year. Tata out bid Mahindra & Mahindra and One Equity for gain control of the two companies.

This is Tata’s second biggest take over. Before this, Tata had earlier bought Corus for more than $12 billion.