HomeBusinessTata Sons wins bid for buying nationwide service Air India...

Tata Sons wins bid for buying nationwide service Air India…

New Delhi: Tata Sons has gained the bid for buying nationwide service Air India for Rs 18,000 crore, the federal government mentioned on Friday.

The transaction might be accomplished by December 2021, knowledgeable Division of Funding and Public Asset Administration secretary Tuhin Kanta Pandey.

 

The bid was filed by Tata Sons wholly-owned subsidiary Talace Pvt Ltd.

Tata Sons have been up in opposition to Spicejet promoter Ajay Singh-led consortium who had bid Rs 15,100 crore.

The full debt of Air India as of August 31 stands at Rs 61,562 crore.

Air India’s reserve worth was fastened after the bids have been referred to as to make sure that the bidders don’t get to know in regards to the reserve worth previous to their bidding. It ensured utmost confidentiality in relation to the reserve worth.

The federal government will divest its 100 per cent stake in Air India, Air India Specific and 50 per cent stake in floor dealing with firm AISATS.

 

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