Tata, the Indian conglomerate that recently announced plans to launch a new minicar (Tata Nano), has created new news with its purchase of Jaguar and Land Rover from Ford.The Nano is scheduled to hit the market in the second half of 2008. It is considered by some to be the least expensive production car in the world: the price is about $2,500. Tata's advertising tagline is 'More Dreams Per Car'.
Tata's purchase of Jaguar and Land Rover from Ford Motor Co. (reported to be a $2.3 billion deal) is the most recent of a string of acquisitions by the Indian company. (Tata recently acquired Britain's Tetley Tea and Boston's Ritz Carlton Hotel, and its steel division bought Britain-based Corus Group last year for $13 billion. )
Tata will have to sell an awful lot of Nano's to pay off the debt it has taken on.
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