TATA Motors buys Jaguar, Land Rover

Indian automaker Tata Motors Ltd said it has agreed to buy the Jaguar and Land Rover brands from Ford Motor Co (NYSE:F PRS) (NYSE:F PRA) (NYSE:F) for 2.3 bln usd cash.

Tata Motors, which has been negotiating the deal since January, said it would support the growth of the two brands, which employ about 16,000 people at plants in the West Midlands and Merseyside in the UK

Gotta love it, they make billions through labor arbitrage and then buy US assets with it that employ...people in the UK.