The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

M&A: Tata says hello to Land Rover and Jaguar

If it’s a chilly wintry day in London, Ratan Tata must be in town buying classic-but-hoary old UK brands. In 2007, the Indian industrialist made headlines after overpaying (as Tata himself admitted) to snap up Anglo-Dutch steelmaker Corus for $12.9 billion. At the time, a banker involved with the deal remembered with a grimace the awful steel assets up for sale on the British side of Corus, noting that they were the worst he’d seen in a developed country in "a long, long time". Never mind: Mumbai-listed Tata Steel, the division that completed the Corus acquisition on January 31 2007 with the aid of a $2.66 billion bridge loan and $6.14 billion-worth of debt, saw its stock more than double in value in 2007 – although it has fallen back by a third this year, in line with the rest of the market.

Tata has been on the warpath again. In late March, Mumbai-listed Tata Motors completed its $2 billion acquisition of two classic British marques: Land Rover and Jaguar. (Tata Motors is actually completing the transaction via the group’s holding company and charitable institution, Tata Sons, which transfers most of the firm’s profits to needy causes.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree