PSA Group is rumored to be in talks with Tata to purchase JLR, report says

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Jaguar and Land Rover may find yourself with new French house owners if rumors are to be believed.


Jaguar

Proper now, Jaguar Land Rover is owned in its entirety by Indian firm Tata — finest identified on this nation for making the Tata Nano, which was the most affordable new automotive on the earth when it got here out, although we by no means acquired it within the US.

Tata’s possession of JLR has had its ups and downs, and the phrase ‘around the campfire — in accordance with a Reuters report Thursday — is that it is contemplating promoting off the British manufacturers and the PSA Group (house of Peugeot and Citroën) is all for shopping for.

Now, each corporations have denied publicly that they are in talks, however that does not imply that it isn’t taking place on the sly. The rumors brought on PSA inventory to leap a little bit when the report was revealed, although they fell once more shortly after.

“As a matter of coverage, we don’t touch upon media hypothesis. However we will affirm there isn’t any fact to those rumors,” a consultant from Tata Motors instructed us on behalf of Jaguar Land Rover.

The PSA Group most just lately acquired Opel and Vauxhall from Basic Motors and has additionally been on the middle of different rumors of acquisitions, this time with Fiat Chrysler. Each in that occasion and with the JLR hypothesis, PSA has signaled its willingness to get together, figuratively talking.

So, what would a PSA Group buyout imply for the storied British manufacturers? It is robust to say, however on condition that JLR is at present staring down the barrel of Brexit, and its proprietor posted a $four billion loss for its fiscal quarter that ended on Dec. 31 of final yr, any assist would seemingly be welcome.

PSA Group did not reply instantly to requests for remark.

Initially revealed Could 9, 2:12 p.m. PT.
Replace, 2:36 p.m.: Provides Tata and JLR’s official denial.

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