Ford Motor Co. announced on Monday that it has finalized the sale of its Land Rover and Jaguar brands to Indian company Tata Motors for $2.4 billion in cash.

The deal includes $100 million for the sale price adjustments and debt balance transfers, and an extra $600 million for pension plans.

American Depositary Shares of Tata Motors closed down $13.32 or 3.90 on the New York Stock Exchange. In after hours trading, shares fell by 0.57 percent to $13.40.

Shares of Ford were fell 2.35 percent to $6.64. They rose 1 cent in after-hours trading.