General Announcement::Tata Motors signs Definitive Agreement for the acquisition of Ford India Sanand plant

Issuer & Securities

Issuer/ Manager
TATA MOTORS LIMITED
Securities
TATA MOTORUS$300M5.875%N250520 - XS2079668609 - FGLB
TATA MOTORUS$500M4.625%N200430 - XS1121907676 - 19RB
TATA MOTORUS$250M5.75%N241030 - XS1121908211 - 19SB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-Aug-2022 20:16:58
Status
New
Announcement Sub Title
Tata Motors signs Definitive Agreement for the acquisition of Ford India Sanand plant
Announcement Reference
SG220808OTHRDIB4
Submitted By (Co./ Ind. Name)
Tata Motors
Designation
Senior Manager
Effective Date and Time of the event
08/08/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
Pursuant to the provisions of Regulation 30 of the SEBI Listing Regulations and further to our letter Sc No. 16797 dated May 30, 2022, we hereby wish to inform you that Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors limited (Tata Motors/ Company) and Ford India Private Limited (FIPL) have executed an Unit Transfer Agreement (UTA) for the acquisition of FIPL s manufacturing plant situated at Sanand, Gujarat which, inter-alia, includes:
(i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein; and
(iii) transfer of all eligible employees of FIPL s vehicle manufacturing operations at Sanand [each of (i), (ii) and (iii) collectively referred to as Sanand Unit ] for a total consideration ,exclusive of taxes, of Rs. 725.7 crore (Rupees Seven Hundred Twenty Five Crore and Seventy Lakh).FIPL will continue to operate its Powertrain Manufacturing Facility by leasing back the land and buildings of the Powertrain Manufacturing Plant from TPEML on mutually agreed terms. TPEML has agreed to offer employment to the eligible employees of FIPL s Powertrain Manufacturing Plant in the event of FIPL s cessation of such operations. The completion of the transaction will be subject to the receipt of relevant approvals of the government authorities and fulfilment of customary condition precedents. Government of Gujarat, TPEML and FIPL have already executed a tripartite MoU on May 30, 2022 to support all relevant approvals for the above transaction.

Attachments

P500NSEBSELETTER.pdf
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