FORD Motor Co officially unloaded its storied Jaguar and Land Rover businesses yesterday - netting the cash-strapped auto maker a US$1.7 billion boost that is a mere third of what it paid for the two luxury brands.
India's Tata Motors Ltd said it had completed the purchase of the brands in a deal first announced on March 26. Tata is paying about US$2.3 billion for the British brands, but Ford is paying about US$600 million into the Jaguar-Land Rover pension fund.