Tata Motors ties up $3 bn in bridge finance to fund JLR buy
Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own 100% in JLR, which is to be operated as Tata Motors\' subsidiaries.The company\'s management said it is raising bridge finance from a syndicate of banks.
Commerce Minister cheers TataJLR deal
Commerce Minister Kamal Nath has applauded the Tatas for taking on the world yet again.
Tata Motors ties up $3 bn in bridge finance to fund JLR buy
Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own 100% in JLR, which is to be operated as Tata Motors\' subsidiaries.The company\'s management said it is raising bridge finance from a syndicate of banks.
Ownership still with Ford till contract ends: JLR
Don Hume, Director Corporate Government Affairs, JaguarLand Rover said the ownership of JaguarLand Rover would be transferred to Tata once the deal is completed. He told CNBCTV18 that Ford would remain a very close associate, in terms of supplying a number of components and other support activities.
Ind cheers Tata MotorsJLR deal but differ on road ahead
The Tata Group has conquered another bit of the empire. Tata Motors is now the proud owners of the iconic Jaguar, and Land Rover brands. In an all cash deal, Tata Motors will buy the British marquee brands for USD 2.3billion. Ford will contribute 600 million dollars towards the pension plans.
Fund raised to be used for capex: Kiri Dyes Chem
The Ahmedabadbased Kiri Dyes and Chemicals (KDCL), manufacturer and exporters of dyes and dyes intermediates is open for subscription. Manish Kiri, MD of Kiri Dyes Chemicals says that the money raised will be used to fund capex for setting up a basic chemical facility for the manufacturing of sulphuric acid, Oleum and Chlorosulphonic acid.
Let JLR operate independently: Top Gear to Tatas
Paul Horrell, Consulting Editor, Top Gear has a view that Tatas are very strong financially but it doesn't have the required technological expertise to directly feed into the kind of things that Jaguar and Land Rover do.
Tatas to continue sorely needed investment process: Unite
Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. Ford said it would pay about USD 600 million towards the pension plan. Roger Madison, National Organiser, Unite told CNBCTV18 that they are happy with the pension plan. Madison added that the Tatas expect to employ more people.
Rupee, bonds end lower
The spot rupee ended lower at Rs 40.14 per USD as against its previous close of Rs 40.11. The widely traded 7.99%, 2017 paper closed lower at Rs 101.40 as against its previous close of Rs 101.68.
Tata Motors in agreement with Ford for purchase of JLR
Tata Motors announced that it has entered into a definitive agreement with the Ford Motor Company for the purchase of Jaguar Land Rover, comprising brands, plants and Intellectual Property Rights.
RBI Reference Rate for US $ Euro
The RBI's Reference Rate for the US dollar is Rs.40.12 and the Reference Rate for Euro is Rs.62.41 on March 25, 2008
Await listing of Titagarh Wagons: Keynote
Titagarh has opened for subscription with its IPO of 2.383 million Equity Shares of face value Rs 10 each. The issue will close on March 27, 2008. Keynote Capitals has recommended investors to await listing.
Data on ECB/FCCB for Nov, Dec 2007 Jan 2008
The RBI has released the data on External Commercial Borrowings and Foreign Currency Convertible Bonds, both Automatic Route and Approval Route, for the months of November 2007, December 2007 and January 2008.
IDBI reduces PLR by 50 bps from Apr 1: NW18
IDBI has reduced prime lending rate by 50 bps to 12.75% from April 1, reports CNBCTV18 quoting Newswire 18.
RBI releases 2nd draft of Guidelines on Recovery Agents
RBI releases second draft of Guidelines on Recovery Agents for Public Comments
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