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Tata Motors Ltd had confirmed a deal to buy Ford Motor Co’s luxury brands JLR for $2.65 billion, a source said.

According to sources, Tata Motors has also decided to spend some money to meet pension liabilities of the company over the $300 million.

Ford refused to comment, saying their 1st duty is to communicate with their workers. Tata Motors Ltd, Country’s top automobile maker, has been in talks with the Ford since it was selected as the leader to purchase JLR a few days into 2008.

Tata Motors is following the deal to achieve a substantial foothold outside the India. But analysts said that how they will fit in the luxury brands, as they are already stabilized in sturdy trucks and passenger cars. While Land Rover has created 3-years of record sales with its iconic SUVs.