Tata, India’s biggest vehicle maker, is likely to pay about $2bn (£1bn) in the deal, although analysts will be keen to see the exact price and terms.

Tata gained key backing from unions for its bid by expressing support for Jaguar and Land Rover’s current management and the brands’ five-year business plan.

Tata’s acquisition is its second big move into the British market in just over a year. In January last year the company, whose interests run from tea plantations to IT, bought the Anglo-Dutch steel maker Corus for £6.7 billion. Its buying spree has also included Tetley, the tea maker, Daewoo’s commercial vehicle arm and the Ritz-Carlton hotel in Boston, Massachusetts.

Source: TimesOnline