Tata Group Formally Joins Race For Air India

Tata Group Formally Joins Race For Air India

Newsdesk |
December 14, 2020

Tata Group filed an Expression of Interest for Air India to the Disinvestment Ministry on Monday and will now be expected to submit its financial bid within the next 15 days. This is just an expression of interest and not a financial bid and it has been submitted as the deadline ends today, Tatas told NDTV. An expression of interest indicates a buyer's interest in acquiring a company. The deadline for filing expression of interest ends at 5 pm. It is still not known whether Tatas plan to acquire Air India with their existing partners, i.e. Air Asia or Vistara, or go it alone.

New Delhi, 14 December 2020

As per news report of NDTV, the shortlisted bidder will be expected to pick up Rs. 23,286 crores of the Rs. 60,000 crore total debt of the airline. The remaining debt will be transferred by the government into a special purpose vehicle called Air India Assets Holding.

Source -NDTV


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