Tata has bought Jaguar and Land Rover from Ford for £1.15bn.
It has long been expected that the Indian firm would buy the luxury brands after negotiations started last June.
Unions had backed the acquisition saying that it would be in the best interests of workers, although there was speculation that Tata would look to sell Jaguar quickly.
Ford is said to be contributing up to approximately £300million to the Jaguar Land Rover pension plans.
Commenting on the agreement, chairman of Motors, Ratan Tata, said: ‘We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business.
‘We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact.
‘We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.’
Alan Mulally, the president and chief executive of Ford, said he was ‘confident’ that the brands would thrive under Tata's ownership.
‘Now, it is time for Ford to concentrate on integrating the Ford brand globally, as we implement our plan to create a strong Ford Motor Company that delivers profitable growth for all,’ he said.
Roger Maddison, Unite National Officer for the automotive industry, said: ‘Today's deal is really good news for the UK automotive industry and the thousands of people who work for Land Rover Jaguar and its' supply chain.
‘Unite has secured written guarantees for all five UK plants on staffing levels, employee terms and conditions, including pensions, and sourcing agreements. The sale ensures our members futures and we look forward to working with Tata.’
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