Jaguar and Land Rover sell to Tata

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Two of Britain's most famous car-making names are now under Indian ownership.

In a £1 billion deal, India's Tata will take control of Jaguar and Land Rover.

The deal secures the future of the British firms and their 16,000 employees while also helping Ford out of financial troubles.

Unions representing the workers at the two companies have given the deal their backing and say Tata was always the preferred bidder.

Tata began the protracted buying process in June 2007 when Ford first announced its plans to sell off Jaguar and Aston Martin.

This announcement followed shortly after Ford had sold Aston Martin for £550 million.

Ford is also thought to have guaranteed pensions for the Jaguar and Land Rover staff.

Tata is the largest vehicle manufacturer in the Indian sub-continent and recently revealed its Nano small car, which is set to be the world's cheapest new car at £1,250.

Alisdair Suttie

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