Competition Commission has approved Tata Group’s proposed acquisition of debt-laden Air India as well as its two subsidiaries.
The Rs 18,000 crore-deal that includes the winning bidder Talace taking over Rs 15,300 crore-worth debt, is a major step in the government’s efforts over the years to revive the ailing airline.
Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, emerged as the winning bidder in October. It will buy 100 per cent stakes in Air India Ltd, Air India Express Ltd and 50 per cent shareholding in Air India SATS Airport Services Pvt Ltd (AISATS).
Competition Commission of India (CCI) has approved Talace acquiring shareholding in Air India, Air India Express and AISATS, an official release said on Monday.
