New Delhi (21.12.2021): The Competition Commission of India (CCI) has approved Tata group's acquisition of Air India, Air India Express, and Air India SATS Airport Services. "Commission approves acquisition of shareholding in Air India, Air India Express and India SATS Airport Services by Talace," it said in a tweet. The Union Government had earlier clarified that it was making efforts to complete the disinvestment process to hand the overall operation of Air India to Tata Sons by the end of December. Talace is a wholly-owned subsidiary of Tata Sons, an investment holdings company that is registered as a core investment company with the Reserve Bank of India. The share purchase agreement shows Rs 46,262 crore debt of the state-owned airline will be transferred to Air India Assets Holding Limited and 15 percent of the total debt of Rs 61,562 crore will be retained by Tata Group.
CCI: Air India’s acquisition by Tata Sons approved
By IndianMandarins - 2021-12-21 09:47:00
New Delhi (21.12.2021): The Competition Commission of India (CCI) has approved Tata group's acquisition of Air India, Air India Express, and Air India SATS Airport Services.
"Commission approves acquisition of shareholding in Air India, Air India Express and India SATS Airport Services by Talace," it said in a tweet.
The Union Government had earlier clarified that it was making efforts to complete the disinvestment process to hand the overall operation of Air India to Tata Sons by the end of December. Talace is a wholly-owned subsidiary of Tata Sons, an investment holdings company that is registered as a core investment company with the Reserve Bank of India. The share purchase agreement shows Rs 46,262 crore debt of the state-owned airline will be transferred to Air India Assets Holding Limited and 15 percent of the total debt of Rs 61,562 crore will be retained by Tata Group.
