COMPANY NEWS; Jaguar Recapitalized
The Ford Motor Company has recapitalized Jaguar, its British luxury auto subsidiary, by investing $:300 million ($450 million), The Financial Times reported today. As a result of Jaguar’s continuing heavy losses, $:180 million of intercompany debt was transformed into equity to strengthen its balance sheet. Jaguar is likely to increase output to 29,000 cars this year from 22,500 last year, the newspaper said.
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