Just hours after returning to Mumbai, Ravi Kant, managing director, and C Ramakrishnan, CFO of Tata Motors [Get Quote] addressed the press on a conference call. Excerpts from the call.

What is the agreement on the supply of engines?

Tata Motors has entered into a long-term agreement with Ford for the supply of powertrains, engines and parts for the next two to three years for the two brands.

Will Ford help in arranging finance for the Jaguar and Land Rover vehicles?

Ford does not offer finance to vehicles which are not made by them. However, they have agreed to finance the JLR vehicles at our request for a transition period of 12 months. That should be enough time for us to make arrangements.

We have initiated talks with other financing companies for sales in the UK, US and Europe markets.

What effect will the acquisition have on the books of Tata Motors? And are you buying 100 per cent of the two companies?

Both business units will continue to operate as they are and the assets will not be brought under the books of Tata Motors. They will operate as subsidiaries of the company. Yes, we have bought 100 per cent of the businesses.

By when will the transaction be completed?

We have only signed a memorandum of understading (MoU) at this stage. The share purchase agreement is subject to various regulatory approvals which will be achieved in a few weeks. We are hopeful that the transaction will be completed in the next one to two months.

How will you finance the deal?

We have arranged for bridge loans for a period of 15 months for an amount of $3 billion. This will also include any contingencies pertaining to the deal.

The bridge loans will be replaced with debt and equity at a later stage. The entire funding will be a mix of debt and equity. We will also raise money through disinvestment of stake in some Tata Motors subsidiaries.

Has your relationship with the unions and the top management been fruitful? Are there any issues?

We have had a lot of interactions with the union and we are satisfied (with the outcome). We hope to build a fruitful relationship with them. The top management of the two companies have shown a lot of enthusiasm and Ratan Tata has met them in Midland, where we told them to ask as any questions they had about the Tatas.

The CEO will stay on. We also have the confidence of the pension trustee and the pension regulator has approved the transaction

What about the R&D and intellectual property rights (IPR)?

We have a clear understanding of who owns the IPR for the products and processes. We are satisfied with the arrangement.

• Tata-JLR deal: Complete Coverage