Motoryzacja

Ford Motor Co., eager to raise cash starting a difficult 2008, is in final discussions with one bidder, the Indian conglomerate Tata Group, to sell its Jaguar and Land Rover brands and a sale is expected to be completed soon. Tata has 98 companies in a variety of industries and has been rumored to be the front-runner for some time.

GENEVA — Indian automaker Tata Motors and a top Ford Motor Co. executive say discussions on selling Jaguar and Land Rover to Tata are still on.

Ford Motor Co. finally closed the book Wednesday on the money-losing Premier Automotive Group, announcing it had reached an agreement with Tata Motors, part of an Indian conglomerate, to sell Jaguar and Land Rover for $2.3 billion.

Ford Motor Co. is selling its Jaguar and Land Rover brands to India's Tata Motors Ltd. in a deal that will net the U.S. automaker $1.7 billion — roughly a third of the price it paid for the two luxury brands.

GENEVA, Switzerland -- The global auto industry will get a major new player, and Ford Motor Co. will lose a major distraction when Indian conglomerate Tata buys Jaguar and Land Rover from Ford in a deal the automakers are likely to consummate in about two weeks.