March 26 (Bloomberg) — Ford Motor Co., the world’s third- largest automaker, agreed to sell Jaguar and Land Rover to Tata Motors Ltd. for less than half what it paid for the two brands as luxury-vehicle demand drops.
Tata, India’s biggest truckmaker, will spend $2.3 billion, while Ford will contribute about $600 million at closing to the Jaguar-Land Rover pension funds, the companies said today.
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