Tata's new wheels: Jaguar, Land Rover | Tata rules UK

HELLO, TATA: Ford acquired Jaguar in 1989 and Land Rover in 2000.

      

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Ford acquired Jaguar for $2.5 billion in 1989 and Land Rover for $2.75 billion in 2000. But the US auto major put the two marquees on the market in 2007 after posting losses of $12.6 billion in 2006 - the heaviest in its 103-year history.

Union, Minister give thumbs up

Ford's labour union, Unite, reacted positively to Tata's bid for the Land Rover brand. "We would have much preferred Ford to keep the companies in the family, but with the commitments Tata have given to the future of Jaguar, Land Rover we're obviously pleased they are in the game,” said Unite General Secretary Tony Woodley.

Union Commerce Minister Kamal Nath said the acquisition was “very good news”.