The outline of a deal for India’s Tata Motors to acquire Ford Motor Co.’s Jaguar and Land Rover brands, which have their U.S. base in Irvine, is expected within two weeks.
Reuters quoted a British trade union official representing workers at the automakers as saying there are no roadblocks to a deal but talks have proven complex.
Tata has been a presumed suitor for the brands since late last year.
Talks are focusing on the future relationship between Ford and the two luxury brands, which will continue to use Ford engines and body parts and will share technology and intellectual property, according to Reuters.
A sale to Tata got union backing last month after Tata ruled out selling Jaguar or making Land Rovers in India.
Jaguar and Land Rover are expected to sell for about $3 billion.
Ford said in November it wanted to sell Jaguar and Land Rover by early this year to cut debt and to rid itself of the poor-performing brands.
It’s unclear what the sale will mean for the Irvine operation.
Jaguar and Land Rover are part of Ford’s Premier Automotive Group, which has about 375 workers in Irvine and yearly sales of about $160 billion.
In March, Ford sold a majority stake in Premier Automotive Group’s Aston Martin for $848 million.
Volvo, the strongest part of Premier Automotive Group, has been the subject of sale rumors. But there has been no confirmation from Ford that the Swedish brand is up for sale.
