Mumbai: India’s Tata Motors is ready to be called as the ideal shopper for Ford Motor’s luxury brands Jaguar and Land Rover as early as Friday after beating up contenders with a bid of about $2 billion.

A report said, “The group has had its 1 billion pound bid ($1.98 billion) accepted by Ford ... The firm has beaten off competition from rival Indian firm Mahindra and Mahindra and private equity group One Equity Partners.”

“It is definitely Tata. There is one final meeting and so long as there are no last minute hitches, which are not expected, an announcement will be made on Friday,” one of the sources said.

The report added that Tata had drawn out prior to Mahindra & Mahindra and One Equity, with an offer in the range of $1.8 billion to $2.2 billion.

A spokeswoman for Tata refused to comment, as did a spokesman for Mahindra & Mahindra.

Previously Ford said it could declare the sale of Jaguar and Land Rover by 2007-end or early next year.

Tata was seen as a front-runner, thanks to its larger size, its dealmaking record and its familiarity with the UK market.

Ford’s UK union leaders last month backed Tata Motors' bid on the grounds that the workforce's interests would best be served by a partner "with an established presence and background in manufacturing".