Tata Motors denies reports of JLR stake sale

The Jaguar Land Rover Automotive XE SV Project 8 vehicle is displayed during a reveal event in Los Angeles California

The Jaguar Land Rover Automotive XE SV Project 8 vehicle is displayed during a reveal event in Los Angeles California

The Jaguar Land Rover Automotive XE SV Project 8 vehicle is displayed during a reveal event in Los Angeles, California.

The original report from Bloomberg said that the Indian company was pondering whether to offload the two British automakers altogether, sell a minority stake or find a venture partner for JLR in order to lower costs.

The reports of a potential stake sale drove Tata Motors shares up as much as 3.7 per cent to 184 rupees. The company is holding initial discussions with potential advisors and there is no surety of the deliberations leading to a deal yet.

JLR posted a loss of about $4 billion in the last quarter.

"There is no truth to the rumours that the company is looking to divest its stake in JLR", Tata Motors told Business Insider, declining to comment further on "market speculation".

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The manufacturer, which is owned by Indian firm Tata, reportedly said fresh investment in the United Kingdom was imminent, and an announcement could come in early March.

Jaguar Land Rover is reportedly preparing to announce an investment of hundreds of millions of pounds in the United Kingdom as part of a strategy to electrify its range of cars, according to a BBC report. JLR is also facing uncertainty surrounding Brexit.

JLR's total debt increased to 4.66 billion pounds in Q3FY19 from 3.8 billion a year ago. "With so many headwinds, JLR needs massive investments to prepare and ride the next upturn of the market". The maker of the Jaguar XE sedan and Land Rover Discovery sports utility vehicle needs to raise US$1 billion in 14 months to replace maturing bonds and is also burning cash on an investment program for electric cars. Tata Motors has also considered listing a stake in JLR in previous years.

Jaguar Land Rover is poised to invest hundreds of millions of pounds into United Kingdom plants as part of a push towards electric cars, it was claimed last night. According to Interbrand, the automotive brand was worth an estimated $6.2 billion past year.

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