The Competition Commission of India (CCI) on December 20 approved the acquisition of shareholding in national carrier Air India by Talace, an entity affiliated to salt-to-software conglomerate Tata Group.
Talace, which is a wholly-owned subsidiary of Tata Sons, has also been allowed by the anti-trust regulator to acquire shares in Air India Express and Air India SATS Airport Services, the CCI tweeted.
“The proposed combination envisages acquisition of 100% equity share capital of Air India Limited (Air India) and Air India Express Limited (AIXL), and 50% equity share capital of Air India SATS Airport Services Private Limited (AISATS) by Talace Private Limited (Talace),” CCI said in a statement.
The government announced on October 8 Talace had won the bid to acquire the debt-laden airline. Tata outbid a consortium led by SpiceJet promoter Ajay Singh by offering ₹18,000 crore.
Also Read: Amidst heavy uproar from Lok Sabha, bill to link voter card with Aadhaar passed
Air India, along with AIXL, is primarily engaged in the business of providing domestic scheduled air passenger transport service, international scheduled air passenger transport service, and air cargo transport services.
ISATS is engaged in the business of providing ground handling services at the following domestic airports, that is, Delhi, Bengaluru, Hyderabad, Mangalore and Thiruvananthapuram, as well as cargo handling services at Bengaluru airport.
(With inputs from ANI)
