Financial Support Package For Jaguar Land Rover Close

Mon, 03 Aug 2009

Tata Motors are reportedly close to agreeing a deal for financial support for troubled UK carmaker Jaguar Land Rover (JLR).

According to newspaper reports, an agreement between Tata and the UK government regarding a resuce package for JLR could be reached this week following months of negotiations.

It is understood executives from Tata and JLR met officials from Business secretary Lord Mandelson’s department last week and have been examining the details of the £170m commerical loan deal, aimed at securing the short-term survival of JLR.

While Tata’s advisors are still examining the conditions of the loan, reports state that there are no longer any areas of considerable disagreement between the parties.

JLR is also reportedly holding talks with the government to provide guarantees to the £340m loan that has been offered by the European Investment Bank (EIB).

The carmaker said the extra funds would aid its efforts to take on more fuel-efficient technologies.
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