Ford (F) just unloaded jaguar and Land Rover to the Tata Group. Almost everyone expected the deal to close. Ford of course took a big hit and lost billions of dollars. The precious little cash that they sourced was partially earmarked to top up a pension plan that they have been neglecting. But at least they can say that the have partially staunched the flow of financial blood.In the press release there is a line that says ’As part of the overall deal, Ford said it will continue to supply Jaguar and Land Rover with engines, stampings and technology.’ No financial numbers have bee[...]
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[Source: The Money Blogs]
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