Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Tatas seek $3 billion loans for Jaguar, Land Rover buy: report
BackBack

Tatas seek $3 billion loans for Jaguar, Land Rover buy: report

Tatas seek $3 billion loans for Jaguar, Land Rover buy: report

Premium

Reuters

Singapore: Tata Motors is seeking about $3 billion in loans to fund its planned purchase of Ford Motor Co’s Jaguar and Land Rover luxury brands, the Financial Times reported on 6 March 2008.

Tata has assigned its advisers, Citigroup and JPMorgan, to arrange the financing with a number of other international and domestic banks, the FT said, quoting people familiar with the matter.

The loan, expected to be mostly short-term bridge financing, is larger than the expected purchase price, estimated at around $2 billion.

A person familiar with the deal said part of the loan could be used for working capital, the newspaper reported.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 06 Mar 2008, 11:03 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie