The Tata Group will take over state-owned Air India, marking a successful end to the government’s bid to privatise the national carrier after having failed to sell a majority stake in it in 2018.
Tata will pay Rs 18,000 crore to acquire Air India from the government -- of the total money 15% would go to the government and the rest will go in clearing debt.
“Talace Pvt Ltd won the bid to own 100% of government stake in Air India,” Tuhin Kant Pandey, secretary, Department of Investment and Public Asset Management (DIPAM) announced today.
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