Ford gains US$1.7b

2008-6-3  |     NEWSPAPER EDITION

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-- Adverstisement --

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.

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Ford gains US$1.7b

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....

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