AirAsia sells remaining stake in AirAsia India to Air India
Malaysia’s AirAsia on Wednesday said it has entered into a pact with Air India to sell its remaining stake in budget carrier AirAsia India. Tata group and the Malaysian entity-owned AirAsia India started flying in June 2014.
In a statement, AirAsia Aviation Group Ltd said it has entered into a share purchase agreement to sell the remaining equity shares held in AirAsia India to Air India. It did not provide any specific details. AirAsia India was a joint venture between Tata Sons and Air Asia Investment Ltd. Tata Sons had an 83.67 per cent stake and the latter owned a 16.33 per cent shareholding.
In June, the Competition Commission of India approved the proposed acquisition of the entire shareholding of AirAsia India by Air India.
