CCI approves Tata’s share acquisition in Air India, AI Express & 50% govt stake AI-SATS
NEW DELHI: Paving the way for Tatas taking over Air India, the Competition Commission of India (CCI) has approved acquisition of shareholding in AI, AI Express and AI-SATS Airport Services Private Limited by Talace Private Limited — a wholly owned subsidiary of Tata Sons.
The proposed combination envisages acquisition of 100% equity share capital of Air India and Air India Express, and 50% equity share capital of AI-SATS Airport Services Private Limited (AISATS) by Talace Private Limited.
The countdown for founder Tata Group re-acquiring AI 68 years after the Maharaja was nationalised has begun. They have to take control and start running AI, AI Express and AI-SATS (in which 50% stake is with the new owners) latest by January 23, 2022, — the “long stop date” as per the share purchase agreement signed with the government.
