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Ford May Pick India's Tata as Preferred Bidder for Jaguar

Ford may choose India's Tata Motors Ltd. as the preferred bidder for its U.K.-based Jaguar and Land Rover brands, a person familiar with the deliberations said, according to Bloomberg.

The selection would allow Ford to negotiate exclusively with Tata before reaching a final agreement. Mahindra & Mahindra Ltd., another India-based manufacturer, and JPMorgan Chase & Co.'s One Equity Partners LLC buyout unit have also been candidates, people familiar with the bidding said in September.

Ford wants to sell the units to focus on its money-losing North American operations. John Gardiner, a U.K.-based Ford spokesman, said no decisions have been made and the automaker expects to announce an agreement early next year.

Posted by Peter C. T. Elsworth  at 2:33 PM to Ford | Permalink

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