Tata Sons to buy 33% stake in AirAsia India for $37mn
Tata Sons Ltd 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, also has 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 March 1, 2022 until May 30, 2022, and the second tranche being exercisable from October 1, 2022 to December 31, 2022,” AirAsia said in a regulatory filing.
