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Tata Motors plans to raise $1.7 bln for Jag deal PDF Print E-mail
Thursday, 29 May 2008

REUTERS, MUMBAI - Tata Motors Ltd, India's top truck and bus maker, said on Wednesday it plans to raise about 72 billion rupees ($1.7 billion) through three simultaneous but unlinked rights issue to help fund its purchase of the Jaguar and Land Rover brands.

The company, also India's No. 3 car maker after Maruti Suzuki and South Korea's Hyundai Motor, said it expected to complete the $2.3 billion acquisition of the two brands from Ford Motor Co shortly.

Tata Motors reported a consolidated net profit of 21.67 billion rupees in the year to March 2008.

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