Steane Klose | Feb 26, 2008

The 'sale of Jaguar Land Rover' saga continues this week, with news overnight that Ford and Tata have reached agreement over the sale and the takeover now looks likely to take place on the 5th or 6th of March.

This follows on from lasts weeks report that Tata were suspected to be considering the immediate sale of Jaguar once they took over. While this is still possible it now seems unlikely as according to Automotive News Europe, Tata has agreed to meet guarantees sought by the unions – and we’d expect that would include not re-selling Jaguar immediately.

The unions involved in the sale process met last week and it is believed that the signing of a memorandum of understanding is expected to take place shortly.

Ford are reportedly trying to time the takeover so that it does not conflict with the Geneva Motor Show debut of its new Fiesta hatch.

[Source: MotorAuthority]

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