| JBidders for the two UK marquee brands—Jaguar and Land Rover—are slated to meet representatives of employee unions and also UK government officials on Wednesday, news channel CNBC-TV18 said without naming sources.
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| According to reports, Tata Motors and Mahindra & Mahindra are in the race to buy the two brands from US-based Ford Motor.
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| Newspapers in the UK had earlier said bidders would make presentations this week to John Hutton, UK secretary of state for business and enterprise, besides meeting employee union officials.
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| The meeting with the UK unions is expected to cover jobs, potential factory closures, supply chain issues, pensions and a continuing commitment by Ford to the two brands through an equity stake.
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| Employee unions of both Jaguar and Land Rover are pressing the UK government for greater involvement in the sale of the two brands, which directly employ about 16,000 people, with a greater number reliant on the brands in their supply chain.
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| Although Tata Motors has acknowledged as having interests in the two brands, Mahindra & Mahindra is yet to make a formal announcement.
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| OneEquity, an US-based private equity firm, is also said to have evinced buying interest.
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| Mahindra & Mahindra is reported to have teamed with US private equity firm Apollo in pursuit of the Jaguar and Land Rover units, the Sunday Times said without naming sources.
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| Ford said it expects to complete the sale of its two luxury brands by early next year. |
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