Ford says Tata front-runner to buy European brands
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Carmaker Ford  said on Thursday that India's Tata Motors  was the front-runner to buy its European brands -- Jaguar and Land Rover.
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The US automaker Ford on Thursday named Tata Motors of India as the preferred buyer for Ford's luxury Jaguar and Land Rover car brands.
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Ford would prefer not to keep a stake in its Jaguar and Land Rover units, when and if the automaker finds a buyer for the two luxury brands.
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Ford Motor Co  on Thursday selected Tata Motors Ltd  as the front-runner to buy Jaguar and Land Rover, placing India's top truckmaker in a position to take over two storied British luxury nameplates.
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Ford Motor Co  is poised to name  India's Tata Motors  as preferred bidder for its  Jaguar and Land Rover brands, Britain's Sunday Times newspaper  reported.
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The Indian company said it was entering detailed talks with Ford about the takeover of Jaguar and Land Rover.
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Ford Motor Co. said on Thursday it  has had contact with interested parties for its Land Rover and  Jaguar luxury brands and is evaluating the level of interest.
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Ford Motor Co  said on Tuesday it  plans to invest $500 million in India to double manufacturing  capacity by 2010 and make a small car and engines to compete  more effectively in the fast-growing market.
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Indian automakers Tata Motors and the Mahindra group are considering separate bids to buy luxury British car brands Jaguar and Land Rover from struggling US carmaker Ford Motor Corp, according to media reports on Thursday.
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DETROIT -- Ford Motor Co. picked India's Tata Motors Ltd. as the top bidder for its Jaguar and Land Rover units, the Detroit automaker said Thursday.
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The US automaker Ford on Thursday named Tata Motors of India as the preferred buyer of Ford's luxury Jaguar and Land Rover models.
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"We hope both parties can reach an agreement in the forthcoming weeks, though these are complex discussions and there is still much work that needs to be done before that position is reached."  Ford Motor Co. picked India's Tata Motors Ltd. as the top bidder for its Jaguar and Land Rover units, the Detroit automaker said Thursday. Ford has entered into "focused negotiations at a more detailed level" with Tata, meaning it has become the preferred bidder for the storied British automakers, the company said in a statement. "There is still a considerable amount of work to do, and while no final decision has been made, we will proceed with further substantive discussions with Tata Motors over the forthcoming weeks with a view to securing an agreement that is in the best interests of all parties concerned," Lewis Booth, executive vice president of Ford's European units, said in a statement. Read more
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India&#39;s Tata Group is interested in  acquiring Ford Motor Co&#39;s  Jaguar and Land Rover brands,  the Indian conglomerate&#39;s chairman Ratan Tata said in remarks  released on Friday.
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The decision to talk to interested buyers comes as Ford also is trying to sell its two other European luxury brands, Jaguar and Land Rover.
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India's Tata Group is interested in acquiring Ford Motor Co's  Jaguar and Land Rover brands, the Indian conglomerate's chairman Ratan Tata said in remarks released on Friday.
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Ford confirms that India's Tata Motors will be the likely buyer of its UK-based Jaguar and Land Rover brands.
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Ford Motor Co.  has hired investment banks to help it explore options including a sale of its Jaguar and Land Rover European luxury brands, sources familiar with the matter said, as several companies ruled themselves out from bidding.