Budget 2018-19

  After signing the deal, Conditions Precedent (CP), which includes terms and conditions, will be completed in eight weeks, as per the plan shared by govt The Centre has signed the share purchase agreement (SPA) with Tata Sons for the privatisation of national carrier Air India. The wholly-owned subsidiary of  Tata Sons , Talace Pvt Ltd, earlier this month had emerged as the successful bidder to buyout government’s shareholding in Air India. The share purchase agreement (SPA) with Tata Sons was signed today, Department of Investment and Public Asset Management (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 national carrier, and a cash component of Rs 2,700 crore. Only two bids were placed to acquire the national carrier, with another one by Spicejet Chairman Ajay Singh in his personal capacity. After signing of the SPA, Conditions Precede...

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