Merger and Aqcusition report
In 2008, Tata Motors acquired British Jaguar Land Rover (JLR), which includes the Daimler and Lanchester brand names
After the acquisition of the British Jaguar Land Rover (JLR) business, which also includes the Daimler, Lanchester and Rover brands, Tata Motors became a major player in the international automobile market. On 27 March 2008, Tata Motors reached an agreement with Ford to purchase their Jaguar Land Rover operations for US$2.3 billion. The sale was completed on 2 June 2008.
The all-cash deal, which was agreed in March, includes all necessary intellectual property rights, manufacturing plants, two advanced design centres in the UK and a worldwide network of sales companies, Tata Motors said in a statement. The brands were bought from Ford Motor Co, which has contributed about $600 million to the Jaguar and Land Rover pension plans, and long-term agreements have been entered into for the supply of engines, stampings and other components. The Ford Motor Credit Company will continue to provide financing for Jaguar Land Rover dealers and customers for a period, and Tata Motors said it was in advanced negotiations with auto finance providers in the UK, Europe and the United States. The Tata Group has always sought to be a value-driven organisation. These values continue to direct the Group's growth and businesses. The five core Tata values underpinning the way we do business are: Integrity: We must conduct our business fairly, with honesty and transparency. Everything we do must stand the test of public scrutiny. Understanding: We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve. Excellence: We must constantly strive to achieve the highest possible standards in our day-to-day work and in the quality of the goods and services we provide. Unity: We must work cohesively with our colleagues...