As 2007 draws to a close more and more reports claiming Tata Motors is the likely buyer of Jaguar and Land Rover are starting to emerge, the latest claiming Ford is about to name the Indian carmaker before the end of the year. Ford’s concern with the process is that the brands are sold to a buyer that wants to continue to build upon their legacy, but now that bidding is closed its only a matter of time until the announcement is made.

According to the Sunday Times, Tata will be fronting roughly $2 billion dollars for the two British carmakers. The only official word from Ford thus far is that it’s aiming to complete the sale by early next year.

Other companies in the running include rival Indian manufacturer Mahindra & Mahindra and private equity firm One Equity Partners.