The Central government on Friday declared Tata Sons subsidiary Talace as the highest bidder for national carrier Air India under the divestment process.Accordingly, Talace quoted an enterprise value of Rs 18,000 crore for 100 per cent equity .
The Government today announced that Talace Pvt Ltd, the special purpose vehicle (SPV) set up by Tata Sons, had emerged as the highest bidder for national flag carrier Air India with a winning bid of Rs 18,000 crore as enterprise value (EV), marking the end of a long and protracted divestment saga.
On September 15, Tata Sons and SpiceJet Chairman Ajay Singh officially submitted their final bid to buy India's flag carrier Air India, raising hopes that the disinvestment process of the loss-making airline will be completed in this financial year. Besides 100 per cent of its stake in the state-owned national airline, the potential buyer will get Air India's 100 per cent of AI Express - a low-cost airline - and 50 percent of Air India SATS Airport Services. The idea of government selling its stakes in Air India - The flying 'maharajah' which was once among Asia's top-most airlines - is not of recent origin. Following is a 10-point primer on the Air India saga
Final bids for Air India disinvestment today, Tata group also in race aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.