Tata gets US antitrust OK for Jaguar, Land Rover

US antitrust authorities have cleared India's Tata Motors Ltd's purchase of Jaguar and Land Rover from Ford Motor Co.Antitrust authorities completed their review of the $2.3 billion deal without taking any action to block it, the U.S. Federal Trade Commission.

In March, Tata announced it would buy Jaguar and Land Rover, giving the Indian automaker a line-up of products ranging from the world's cheapest car to some of the most expensive.

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Tatas plan to raise $983 million in Japan

Tata Motors Ltd plans to list depositary receipts on the Tokyo Stock Exchange, and may raise more than 100 billion yen ($983 million) in Japan for acquisitions.Tata, India's top vehicle maker, last week announced a deal to buy luxury brands Jaguar and Land Rover from Ford Motor Co for about $2.3 billion(Related Story). Later this year it plans to start selling the Nano, the world's cheapest car at about $2,500.

A spokesman for Tata Motors, India's top vehicle maker, said he could not comment on the Nikkei report immediately. Tata Motors last month signed a deal for a $3 billion one-year bridge loan, which it has indicated it would use for Jaguar and Land Rover deal.

It also said it would raise additional long-term funds of up to 40 billion rupees ($1billion). The Nikkei said Tata will list depositary receipts on Tokyo's largest bourse as early as this summer to finance acquisitions, becoming the first overseas firm to do so after restrictions were lifted last year.

Tatas may sell stake in HV Axel, HV Trans

To fund its Jaguar Land Rover (JLR) buyout, Tata Motors, is preparing to divest stake in two of its 100 per cent owned business units — HV Axel and HV Transmission.

According to sources, Tata Motors has been in talks with automotive firms, which include an international transmission giant. The company, according to officials, is unlikely to offload a majority stake in both the profitable subsidiaries.