The Department of Investment and Public Asset Management (DIPAM) informed that Tata Sons have emerged successful in winning the bid of India's struggling national carrier, Air India.
The Tata Group placed a winning bid of Rs 18,000 crore. DIPAM Secretary Tuhin Kanta Pandey said the new owner will also take on around Rs 15,300 crores of debt will the remaining 2,700 crore will be paid to the government in cash.
The multi-industry company had submitted their final bids last month to acquire a 100 per cent stake in flag carrier.
As per reports, the stake sale includes Air India's 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Private Ltd.
The Tata Sons are expected to get 1,800 international landing and parking slots at domestic airports and 900 slots at overseas airports, in addition to 4,400 domestic slots.
Air India was founded by Tata Group in 1932 and was nationalised in 1953. Air India had been in losses ever since it's merger with domestic operator, Indian Airlines in 2007.
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