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Big News : Tata group is in air India race...

Tata group is in air India race...

Tata group is in air India race...


New Delhi: Domestic industrial giant Tata Sons has filed a financial bid to acquire state-owned airline Air India.  Similarly the affordable airline SpiceJet .. Chief Ajay Singh is also competing by bidding.  Deepam Secretary Tuhin Kanta Pandey recently revealed that financial bids for the Air India acquisition have been filed by Wednesday, the last day.  It did not say how many companies were in the race.

A spokesperson for the group clarified that Tata Sons had filed the bid.  On the other hand, SpiceJet MD, Chairperson Ajay Singh is vying for the personal position, sources said.  It seems that many companies have submitted bids along this path.  Pandey said several financial bids had been filed with the Air India sales transaction management company.  He tweeted that the design investment process has now reached the final stage (concluding stage).

100 percent stake: As part of the disinvestment, the Central Government will sell 100 per cent stake in Air India Ltd. It will also sell 100 per cent stake in Air India Limited to AI Express Limited.  In addition, Air India will transfer 50 per cent stake in SATs Airport Services, a privately held company.  Sales preparations, which began in January 2020, have been delayed due to Kovid-19.  In April this year, the government invited financial bids from companies likely to buy Air India.  The deadline for these is Wednesday (15).  The advisory body will consider bids submitted above the undisclosed reserve price.  The highest bidder will be selected.  So that these will be sent to the Cabinet for approval.

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