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Ford to meet India's Tata, Mahindra: report

MUMBAI
Tue Aug 14, 2007 7:15am EDT

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Jaguar vehicles sit on the lot at a Jaguar an Land Rover car dealership in Louisville, Kentucky, August 25, 2006. Ford, which is exploring the sale of its Jaguar and Land Rover brands, has contacted India's Tata Motors and Mahindra & Mahindra for management meetings, the Economic Times said on Tuesday. REUTERS/John Sommers II

MUMBAI (Reuters) - Carmaker Ford Motor Co. (F.N), which is exploring the sale of its Jaguar and Land Rover brands, has contacted India's Tata Motors (TAMO.BO) and Mahindra & Mahindra (MAHM.BO) for management meetings, the Economic Times said on Tuesday.

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Citing industry insiders, the newspaper said the meetings would be followed by detailed due diligence.

Ford, the No. 2 U.S. auto maker, said last month it would continue talks with selected suitors for the marques.

A source familiar with the matter said in July that Tata and its local rival Mahindra & Mahindra, as well as U.S. buyout firms TPG TPG.UL and Ripplewood, were among those that had expressed interest in a possible bid.

A spokesman for Tata Motors said: "We do not wish to comment." Mahindra & Mahindra could not be immediately reached.
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