Tata Motors completes Rs 725 cr acquisition of Ford's Sanand plant

All eligible employees of Ford India's vehicle making plant have been offered jobs at TPEML on terms, conditions and benefits of service similar to those currently availed by them

Tata Passenger Electric Mobility (TPEML), a subsidiary of Tata Motors, has completed the acquisition of Ford India’s vehicle manufacturing plant in Sanand for Rs 725.7 crore, according to an exchange notification.

On August 7, TPEML and Ford India (FIPL) had signed a unit transfer agreement for acquisition of FIPL’s plant in Sanand, Gujarat, including entire land and buildings; vehicle manufacturing plant along with machinery and equipment situated therein; and transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand, for a total consideration, exclusive of taxes, of Rs 725.7 crore.

“Pursuant to the fulfilment of the necessary condition