Ford will announce the $2 billion sale of Jaguar and Land Rover to India's Tata Motors on Wednesday, reports Reuters, citing a report by the Financial Times. The announcement comes just ahead of Ford's goal of finalizing the sale prior to the end of the first quarter of the year.
As part of the deal, Ford will contribute to a pension fund for Jaguar and Land Rover employees, while Tata will buy engines from Ford to power Jaguar and Land Rover vehicles.
Source: Reuters