Tata Group takes over Air India
New Delhi Jan 27 PTI Tata Group on Thursday took over the ownership of national carrier Air India The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to Ms talace Pvt Ltd along with management control DIPAM Secretary Tuhin Kanta Pandey said in a tweet A new board led by the strategic partner takes charge of Air India he added In October last year Tata Group announced the winning bidder for Air India with a bid amount ofRs 18000 crore Tatas would pay Rs 2700 crore cash and takeover Rs 15300 crore of the airlines debt The Air India strategic disinvestment transaction has been completed today with Government receiving a consideration of Rs 2700 crore from the Strategic Partner Ms Talace Pvt Ltd a wholly owned subsidiary of Ms Tata Sons Pvt Ltd retaining debt of Rs 15300 crore in Air India and AIXL and transferring shares of Air India 100 per cent shares of Air India and itssubsidiary AIXL and 50 per cent shares of AISATS to the Strategic Partner the finance ministry said in a statement Tatas beat the Rs 15100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier PTI JD RAM
New Delhi Jan 27 PTI Tata Group on Thursday took over the ownership of national carrier Air India The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to Ms talace Pvt Ltd along with management control DIPAM Secretary Tuhin Kanta Pandey said in a tweet A new board led by the strategic partner takes charge of Air India he added In October last year Tata Group announced the winning bidder for Air India with a bid amount ofRs 18000 crore Tatas would pay Rs 2700 crore cash and takeover Rs 15300 crore of the airlines debt The Air India strategic disinvestment transaction has been completed today with Government receiving a consideration of Rs 2700 crore from the Strategic Partner Ms Talace Pvt Ltd a wholly owned subsidiary of Ms Tata Sons Pvt Ltd retaining debt of Rs 15300 crore in Air India and AIXL and transferring shares of Air India 100 per cent shares of Air India and itssubsidiary AIXL and 50 per cent shares of AISATS to the Strategic Partner the finance ministry said in a statement Tatas beat the Rs 15100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier PTI JD RAM
