 
                  
Tata Sons wins bid to acquire Air India: Government
Talace Private Limited, an entity of Tata Sons, will be acquiring a 100 per cent stake in the carrier as part of the acquisition.
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Talace Private Limited, an entity of Tata Sons, will be acquiring a 100 per cent stake in the carrier as part of the acquisition.
 
                  
The promoters of Sterling Investment Corporation, an entity of Shapoorji Pallonji & Company Private Ltd., own a total of 9.185 per cent stake in Tata Sons which will be pledged to raise Rs. 6,600 crores.
 
                  
The formal statement is likely to arrive in the coming days. This is a breakthrough in the government's privatisation initiative and will give back Air India to its owners after nationalising it in 1953.
 
                  
 
                  
 
                  
 
                  
 
                  
 
                  
 
                  
 
                  
 
                  
 
                  
The deal is a part of the strategic plan of the company to reduce overall leverage. The company is expecting Enterprise Value of Rs 1,076 crore as an upfront payment to this deal.
 
                  
Shapoorji Pallonji Group will have to restructure debt to the tune of Rs 10,900 crore following its announcement of exit from the Tata Sons.
 
                  
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