After months of negotiations it seems that Ford’s sale of Jaguar and Land Rover is finally coming to an end, with Indian conglomerate Tata Motors tipped to win the bidding war. Ford previously announced that it wished to close the deal by September 2007, but delays have kept the bidding process ongoing and Ford is now seemingly looking to finalise the purchase by early next year, if not by the end of this year.
According to PTI, the two Indian front-runners, Tata Motors and Mahindra & Mahindra, are holding bids of $2.05 billion and $1.90 billion respectively. Private equity firm OneEquity is still in the running but it is believed that Ford prefers an established automotive company to take over the iconic British brands.
The New York Times however has reported that a decision could be made in the next few days, so all we can do for now is just wait and see.