Paving the way for Tatas taking over Air India, the Competition Commission of India has approved acquisition of shareholding in AI, AI Express and AISATS Airport Services by Talace. Talace is a wholly owned subsidiary of Tata Sons.
The proposed combination envisages acquisition of 100% equity share capital of Air India and Air India Express, and 50% equity share capital of AI-SATS Airport Services by Talace.
The countdown for Tata Group re-acquiring AI, 68 years after the Maharaja was nationalised, has begun. They have to take control and start running AI, AI Express and AI-SATS latest by January 23, — the “long stop date” according to the share purchase agreement signed with the government. The Tatas have so far not spelt out their plans for Air India.