Government issues LoI to Tatas for sale of AI
NEW DELHI: The government on Monday issued a letter of intent (LoI) confirming the sale of its 100% in the loss-making Air India to Tata Group for Rs 18,000 crore.
Last week, the government had accepted an offer by Talace, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the troubled airline’s debt.
Tata Group holding firm Tata Sons said on Monday it is looking forward to completing the process of acquiring Air India over the next few months by working with the government.
