The Competition Commission of India (CCI) has approved the acquisition of a shareholding in Air India by Talace Private Limited, a wholly-owned subsidiary of Tata Sons. The regulator also approved stake acquisition by Talace in Air India Express and Air India SATS Airport Services along with the acquisition of shares in Air India. Currently, Air India is wholly owned by the government.
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Tata Sons’ subsidiary Talace emerged as the highest bidder for AIR India, under the divestment process. Talace had quoted an enterprise value of Rs 18,000 crore for 100 per cent equity shareholding of the Centre. Out of 18000 crores, Telace will retain Rs 15300 crore while the rest will be paid to the Central government as a cash component.
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