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CCI approves acquisition of a shareholding in Air India by Tata Sons

CCI approves acquisition of a shareholding in Air India by Tata Sons

Competition Commission of India (CCI) has approved Tata Group’s acquisition of Air India, Air India Express, and Air India SATS Airport Services. The regulator also approved stake acquisition by Talace in Air India Express and Air India SATS Airport Services along with the acquisition of shares in Air India. Currently, Air India is wholly owned by the government.

Key Points

Tata’s Bid:

Tata Sons’ subsidiary Talace emerged as the highest bidder for AIR India, under the divestment process. The government on October 8 had announced that Tatas have won the bid to acquire debt-laden national carrier Air India for ₹18,000 crore. The amount includes payment of ₹2,700 crore in cash and take over ₹15,300 crore of the carrier’s debt.

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