LONDON: Indian conglomerate Tata and US car maker Ford are expected to complete the deal of the latter's luxury brands Jaguar and Land Rover within a few days, a media report said on Monday.
According to a newspaper, Ford is expected to complete the sale of Jaguar and Land Rover to Tata "within a few days."
"The two sides are understood to be keen to complete the deal in time to meet Ford's previous indications that the disposal would take place early in 2008," the newspaper said in an article published in its online edition.
Further, it noted that "neither side has put a price on the marques."
"Initial estimates suggested that Ford would expect to receive between 1.3 billion dollars (660 million pounds) and 1.5 billion dollars, though the recent success of Land Rover, on the back of new model launches, may have pushed the price tag closer to two billion dollars," the report said.
Quoting industry sources, the report pointed out that a complex set of supply agreements that form part of the deal has prolonged the negotiations.
In January, Ford had named Tata as the preferred bidder for its British brands Jaguar and Land Rover.
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