Tata Sons to buy 33% more in AirAsia India
Tata Sons has agreed to buy an additional 32.67% stake in AirAsia India Ltd from its joint venture partner for $37.66 million, increasing its stake in the budget airline to 83.67%, Malaysia’s AirAsia Bhd said on Tuesday.
Tata Sons, which owns a 51% stake in the Indian joint venture, has also the option to buy out AirAsia Bhd’s remaining 16.33% stake after the closure of the deal.
“There will also be a put option exercisable by AAIL (AirAsia India) in two tranches, with the first tranche being exercisable from 1 March 2022 until 30 May 2022, and the second tranche being exercisable from 1 October 2022 to 31 December 2022,” AirAsia said in a regulatory filing.
