Auto India, Car India

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Ford and Tata Motors Co are nearing an agreement for Tatas to purchase the European brands Jaguar and Land Rover, said a person briefed on the negotiations.

According to that person, the agreement will be announced in 1st week of February, but may be late as the Geneva Motor Show in March.

Ford Chief Financial Officer Don Leclair said in Telephone interview,” Our plan right now is to sell the business in its entirety.”

Ford and Tatas are negotiating the deal for Ford to providing the engines and other needed technology to J&LR, a person said.

Ford spokesman John Gardiner didn’t comment on sale or negotiation. He said,”We are not giving any details of our discussions.”