Competition Commission clears Tata-Air India deal

The Rs 18,000 crore-deal that includes the winning bidder Talace taking over Rs 15,300 crore-worth debt, is a major step in the government’s efforts over the years to revive the ailing airline.

Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, emerged as the winning bidder in October. It will buy 100 pc stakes in Air India Ltd, Air India Express Ltd and 50 pc shareholding in Air India SATS Airport Services Pvt Ltd. AISATS is engaged in the business of providing ground handling services at Bengaluru, Hyderabad, Mangalore, Thiruvananthapuram and Delhi airports. It also provides cargo handling services at Bengaluru airport, a release said. Deals beyond a certain threshold require approval from the CCI, which has the mandate to ensure fair competition in the market place.