Skip to main content

Govt issues letter of intent to Tata group-owned Talace for Air India sale

 Post signing of agreement, Conditions Precedent will be completed in about eight weeks

Air India

The Centre has issued Letter of Intent (LoI) to Tata group-owned Talace for the sale of national carrier Air India. The wholly owned subsidiary of Tata Sons, Talace, last week emerged the successful bidder for sale of government’s shareholding in Air India. The share purchase agreement with the buyer of Air India will be signed soon, DIPAM Secretary Tuhin Kanta Pandey said in a tweet.

Talace had placed a bid to acquire Air India for Rs 18,000 crore, which involved retaining debt of Rs 15,300 crore of the carrier, and a cash component of Rs 2,700 crore. Post signing of agreement, Conditions Precedent will be completed in about eight weeks. The government will prepare financial statement of the national carrier on a cut-off date before handing over the airline to Tatas. The transaction would be completed by the end of December…Read More


Labels:

Comments

Post a Comment

Popular posts from this blog

Meet Balesh Sharma, who will be the CEO of Vodafone-Idea merged entity

United Kingdom-based Vodafone Group and Aditya Birla Group have appointed Balesh Sharma as the chief executive officer (CEO) of the merged entity to be created as the local units of the two telecom majors come together for the India market. The appointment of Sharma has not come as a surprise to Vodafone employees, who have seen him taking control of the day-to-day functions of the company over the past year as its chief operating officer (COO). According to several employees of the company, over the past year or so, Sharma was the man responsible for running the company, with Vodafone India CEO Sunil Sood taking a backseat for routine activities. When everybody was guessing about the CEO of the new entity, there were a few people in Vodafone who were sure about Sharma taking the reins of the new company. Sharma, having worked in different positions for over 25 years, has been a Vodafone veteran.He was specially called to India in April 2017 as COO from the Czech Republic. Th...
Post a Comment
Read more

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor  and indoor activities in their training schedule.   Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...
Post a Comment
Read more