CCI approves acquisition of shareholding in Air India by Tata Sons

The Competition Commission of India (CCI) has approved Tata Group's proposed acquisition of Air India, Air India Express and  AISATS. Talace Pvt Ltd, part of Tata Group, is to acquire 100 per cent stakes in Air India, AI Express and 50 per cent shareholding in AISATS Airport Services Pvt Ltd (AISATS). According to an official release on Monday, CCI has given its nod for the deal. In October, Talace Pvt Ltd emerged as the winning bidder for Air India with a bid worth Rs 18,000 crore. It will pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.

On October 25, the government signed the share purchase agreement with Tata Sons for the divestment of Air India, which is wholly owned by the government. Civil aviation minister Jyotiraditya Scindia had said the transfer of Air India to Tata Sons will be completed in the next 1 to 1.5 months. The government will get around Rs 2,700 crore cash from Tatas and they will take over Rs15,300 crore debt.