Ford sold Jaguar and Land Rover to Tata Motors.
The deal was finalized after being announced on March 26.
Tata paid approximately $2.3 billion for the brands.
Ford contributed $600 million to the Jaguar-Land Rover pension fund.
Ford nets $1.7 billion from the sale.
Ford originally bought Jaguar for $2.5 billion and Land Rover for $2.7 billion.
Opinion
This sale, while providing immediate cash, may negatively impact Ford's stock as selling prized assets at such a significant loss signals potential mismanagement and raises concerns about Ford's overall strategic direction and financial stability.
Core Sell Point
Ford's sale of Jaguar and Land Rover to Tata Motors at a substantial loss raises concerns about Ford's strategic management and financial health, potentially negatively impacting its stock value.
Ford Motor Co. has finalized the agreement to sell its storied Jaguar and Land Rover businesses to Tata Motors Ltd.
Tata said Monday it has closed on the deal first announced on March 26. Tata is paying about $2.3 billion (euro1.5 billion) for the British brands, but Ford is paying about $600 million (euro387 million) into the Jaguar-Land Rover pension fund.
The sale had been in the works for months as cash-strapped Ford sought money to fund its turnaroun ..
The sale nets the Dearborn, Michigan-based automaker $1.7 billion (euro1.1 billion) _ roughly a third of the price it paid for the two luxury brands.
Ford bought Jaguar for $2.5 billion in 1989 and Land Rover for $2.7 billion in 2000.
