Tata is now in talk with US car maker ford to buy its luxury brands Jaguar and land rover. For this deal Tata is seeking loan of $3b for its acquisition, financial times said this.
India’s second largest car makers assigned both Citigroup and JPMorgan to raise finance. Besides this international financial banks Tata had some talk with domestic group SBI. The loan should be short term financing about $2b. The other banks which are also shouldering includes Bank of Tokyo, Mitsubushi, UFG etc. Since Tata is seeking loan very fast, i think Tata is about to close the deal by next week itself.