The Competition Commission of India (CCI) approved Talace, a wholly-owned subsidiary of Tata Sons, acquiring Air India Stakes on 20 December.
Highlights:
Air India is currently entirely owned by the Indian government.
Air India and AIXL are principally delivering domestic scheduled air passenger transportation, air cargo transport, and international scheduled air passenger transport.
Air India SATS Airport Services provides ground handling services at Delhi, Hyderabad, Bengaluru, Mangaluru, and Thiruvananthapuram. Bengaluru Airport also provides cargo handling services.
In October 2021, the Tata Group signed a share purchase deal with the government of India to buy the government’s stake in national carriers Air India, Air India Express, and AISATS. Following that, Tata Group received a Letter of Intent (LoI).
The Tata Group had to meet the agreement’s pre-conditions following the SPA before acquiring Air India.
Under the sale process, Tata Sons’ subsidiary Talace emerged as the highest bidder for AIR India.