AM Online

Tata to raise $1.8bn in rights issues

Tata Motors will raise $1.8bn to fund its purchase of Jaguar and Land Rover.

The Indian car manufacturer said it will raise the money through three separate rights issues to help pay for its $2.3bn buyout of the luxury UK brands.

According to the Financial Times, Tata also plan to raise around $500-$600m by issuing securities in foreign markets.

It expects to close the Jaguar and Land Rover deal shortly.

This most recent funding will help repay interim loans that Tata took out to secure the initial acquisition cost of the two marques.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest

Login  /  Register


No comments have been made yet.