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Tata Motors owned JLR in race to buy UK Grand Prix circuit:

Rangila

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LONDON: Tata MotorsBSE -1.77 % owned Jaguar Land Rover (JLR) is reportedly examining a bid worth millions of pounds to buy Britain's Formula One Grand Prix track, according to a media report.

The luxury car maker has prepared its bid for Silverstone - one of the UK's best known racing circuits, according to documents seen by 'The Financial Times'.

JLR is believed to have asked property consultant Cushman & Wakefield to draw up a valuation for the Northamptonshire track in the East Midlands region of England in July.

Under the terms being considered, Silverstone would become JLR's home and would include a "heritage centre" to display the company's fleet of cars, offices for up to 1,000 staff and a hotel and visitor centre, the newspaper reports.

Cushman & Wakefield advised the company that the market value for the circuit, industrial units and land for potential development would be 22.7 million pounds.


Silverstone is currently owned by the British Racing Driver's Club, which has been responsible for developing the track into one of the world's most high-profile tracks for more than 50 years.

"We continually look to invest and grow our business operations in the UK and constantly evaluate a wide range of opportunities which are confidential," a JLR spokesperson said.

Over the past five years under the Tata Group's ownership JLR has invested nearly 11 billion pounds in new facilities.

Read more at:
Tata Motors owned JLR in race to buy UK Grand Prix circuit: Report - The Economic Times
 
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Investing in a country suffering from economic problems is not good idea. Already all TATA units in UK are suffering, better open more show Rooms in China, USA and India. Will get better rate of return.
 
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Investing in a country suffering from economic problems is not good idea. Already all TATA units in UK are suffering, better open more show Rooms in China, USA and India. Will get better rate of return.
well sir.. TaTa's are not fools.. if they thought of buying something. than there must be something..
 
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Silverstone is the home track of the Force India F1 racing team, owned by Vijay Malya.
It will be interating if Tata really buys silverstone track.
 
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