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'Jag-Landy deal in 2 weeks'

Thu, 06 Mar 2008

By Tim Pollard

Motor Industry

06 March 2008 18:50

It was the story that never happened. Rival media reported that the Jaguar/Land Rover sale would be completed at the Geneva Motor Show earlier this week, but CAR Online spoke to executives close to the deal who said it wouldn’t be for another couple of weeks.

‘We didn’t want to over-shadow the products at the show, but to be honest the deal just isn’t done yet,’ said our insider. He said the paperwork and epic detail required on a deal of this scale had created new delays – and revealed that the 4-5 March date had been leaked from the unions, not Ford or Tata.

‘Jaguar-Land Rover deal by mid-March’
Ford is likely to finalise the deal to sell Jaguar and Land Rover by mid-March, CAR Online understands. It will be announced to the American stock exchange early in the morning, meaning the news will be confirmed in the UK around lunchtime.

‘If you think the JLR sale is creating a lot of headlines in the UK, you should see what’s happening in India,’ said our man. ‘We are fielding around 25 calls a day from Indian journalists, who are extremely excited by their prestigious new acquisition.’

Keep an eye on CAR Online for the latest details

By Tim Pollard