Competition Commission approves Tata’s Air India acquisition

 

Competition Commission has approved Tata Group’s proposed acquisition of Air India, Air India Express and AISATS.

Talace Pvt Ltd, part of Tata Group, is to acquire 100 per cent stakes in Air India, Air India Express and 50 per cent shareholding in Air India SATS Airport Services Pvt Ltd (AISATS)

According to an official release on Monday, Competition Commission of India (CCI) has given its nod for the deal.

In October, Talace Pvt Ltd emerged as the winning bidder for Air India with a bid worth Rs 18,000 crore. It will pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline’s debt.