(Updated to include unavailability of co. to comment, and updated share
price)
NEW YORK (Thomson Financial) - Ford Motor is expected to announce the sale
of its Jaguar and Land Rover brands to India's Tata Motors Ltd. on Wednesday for
about $2 billion, according to a published report.
The sale agreement is expected to include a pledge by Ford to contribute to
the two businesses' pension funds, and for Tata to continue to buy engines from
Ford, the Financial Times reported.
Ford was not immediately available for comment on the report.
Italy's Fiat SPA is interested in working with the companies if the sale to
Tata goes through, the report said.
Ford's stock was up 6.1% at $5.96 in late-afternoon trading, and hit a
2-week high of $6.02 earlier in the session.
Tomi Kilgore
tk1/tk1/tk1
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