Tata Sons to acquire 32.67 % more in AirAsia India for $37.66 m
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing.
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.
In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, “The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered
into a share purchase agreement.”It added that the pact is for disposing of AAIL’s equity interest of 32.67 per cent in AirAsia India to Tata Sons “for a total consideration sum of $37,660,000 (or MYR 152.58 million)”.
