Tata Sons to buy 32.67% stake in AirAsia India for Rs 275 crore
The salt to software conglomerate Tata Sons will be purchasing 32.67 per cent stake in AirAsia India from AirAsia Group Bhd.
The deal would be worth $37.66 million (approximately Rs 275 crore), AirAsia Group told Bursa Malaysia (Malaysian Stock Exchange). The JV is a 51:49 per cent partnership between TSL and AAIL respectively with a paid-up capital of Rs 1,500 crore.
With the move, the stake of Tata Sons in AirAsia India will surge to 83.67 per cent, while that of AirAsia group will come down to 16.33 per cent. As part of the transaction, there will be a Call Option in respect to AirAsia Group’s remaining 16.33 per cent stake in AirAsia India, exercisable by Tata Sons at any time after the transaction is completed.
