CCI approved acquisition of shareholding in Air India Limited & two subsidiaries

by Psu Connect
Date: 21-12-21

Tata Sons is an investment holding company, which is registered as a core investment company with the RBI and classified as a “Systemically Important Non-Deposit Taking Core Investment Company”.

CCI approved acquisition of shareholding in Air India Limited & two subsidiaries

Air India is wholly owned by the Government of India.Image credit: Reuters

New Delhi: The Competition Commission of India (CCI) approves acquisition of a shareholding in Air India Limited, Air India Express Limited, and Air India SATS Airport Services Private Limited by Talace Private Limited.

The proposed combination envisages the 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).

Talace is a wholly-owned subsidiary of Tata Sons. Tata Sons is an investment holding company, which is registered as a core investment company with the Reserve Bank of India (RBI) and classified as a “Systemically Important Non-Deposit Taking Core Investment Company”.

Air India is wholly owned by the Government of India. 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 i.e. Delhi, Bengaluru, Hyderabad, Mangalore and Thiruvananthapuram, as well as cargo handling services at Bengaluru airport.

Detailed order of the CCI will follow.