Indian watchdog okays Tata Group’s Air India & Co. purchase

The Competition Commission of India has approved conglomerate Tata Sons’ acquisition of a 100% shareholding in Air India (AI, Mumbai Int’l) and Air India Express (IX, Mumbai Int’l) and a 50% stake in Air India SATS Airport Services via its wholly-owned subsidiary Talace.

Tata Sons, it summarised in a statement on December 20, is “an investment holding company registered as a core investment company with the Reserve Bank of India and classified as a Systemically Important Non-Deposit Taking Core Investment Company.”

“A detailed order from the commission will follow” on the acquisition of the still wholly government-owned flag carrier, the brief statement concluded. A tweet from the CCI revealed the Combination Registration number of the proposed deal, C-2021/11/883.

Tata must take control and start operating Air India at the latest by January 23, 2022, it was revealed earlier this month. The rest of the transaction is expected to be completed by the end of December with final formalities to end in January.