Tata Group receives green signal from CCI to acquire Air India

On October 8 the Tata Sons had won the bid for Air India.

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Today the Competition Commission of India (CCI) has approved Tata Group’s acquisition of Air India & other services related to it. 

The Government had said earlier that the process of disinvestment & handing over of Air India to Tata Sons is to be completed by the end of December.

On October 8 the Tata Sons had won the bid for Air India. Tata’s had placed the bid amount worth ₹18,000 crores. According to reports the amount includes payment of ₹2,700 crores in cash and take over ₹15,300 crores of the carrier’s debt. Tatas will also own Air India’s 50% stake in AISATS.

The non-core assets of Air India that includes land & building worth  ₹14,718 crores will be transferred to AIAHL. The GOI had issued the Letter of Intent to Tata Sons on October 11.