Air India sold to Tatas for $ 2.4 billion
India’s top business group, Tata Sons, will take over the loss-making national carrier Air India, the Centre said on Friday. The deal is a part of the government’s most ambitious disinvestment project, media reports said.
The Tata Group placed a winning bid of Rs 18,000 crore ($2.4 billion). Along with the assets, the new owner will also take on around Rs 15,300 crore of debt, secretary, Department of Investment and Public Asset Management Tuhin Kanta Pandey said.