India Business

Tata Motors, India's top carmaker, announced a deal for British luxury automakers Jaguar and Land Rover from Ford for $2.3 billion. Ford paid for $2.5billion for Jaguar in 1989 and $2.8billion for Land Rover in March 2000. The deal obligates Ford to pay about $600 million into the Jaguar-Land Rover pension fund on closing, so Ford will net only about $1.7 billion. (Los Angeles Times, 3/25/08)