India News | CCI Approves Acquisition of Shareholding in Air India by Tata Sons

New Delhi [India], December 20 (ANI): The Competition Commission of India (CCI) on Monday approved the acquisition of shareholding in Air India Limited, Air India Express Limited and Air India SATS Airport Services Private Limited by Talace Private Limited, a wholly-owned subsidiary of Tata Sons.

As per an official statement from CCI, the proposed combination envisages acquisition of 100 per cent equity share capital of Air India Limited (Air India) and Air India Express Limited (AIXL), and 50 per cent equity share capital of Air India SATS Airport Services Private Limited (AISATS) by Talace Private Limited (Talace).

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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, 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.

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ISATS is engaged in the business of providing ground handling services at the following domestic airports, that is, Delhi, Bengaluru, Hyderabad, Mangalore and Thiruvananthapuram, as well as cargo handling services at Bengaluru airport. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)