India’s Tata Motors Ltd. has reportedly signed a $3 billion loan agreement with Citigroup and JPMorgan to help the automaker buy British luxury brands Jaguar and Land Rover from Ford. “It is signed, but it’s still at an early process,” an unidentified source told Reuters. The Tata-Ford deal is expected to be completed by the end of March. (Reuters)
The bottom line
March 18, 2008
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