Dec 20: The Competition Commission of India (CCI) approves acquisition of shareholding in Air India Limited, Air India Express Limited and Air India SATS Airport Services Private Limited by Talace Private Limited.
The proposed combination envisages acquisition of 100% equity share capital of Air India Limited (Air India) and Air India Express Limited (AIXL), and 50% equity share capital of Air India SATS Airport Services Private Limited (AISATS) by Talace Private Limited (Talace).
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 is wholly owned by the Government of India. 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.
ISATS is engaged in the business of providing ground handling services at the following domestic airports i.e. Delhi, Bengaluru, Hyderabad, Mangalore and Thiruvananthapuram, as well as cargo handling services at Bengaluru airport.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.