India Government selects TATA Group as the winning bidder for Air India divestment

India's Government selected (08-Oct-2021) TATA Group as the winning bidder on a tender to acquire a 100% stake in Air India, Air India Express and Air India SATS Airport Services PVT Limited. TATA Group submitted an INR180 billion (USD2.4 billion) bid to acquire the stake. India's Government plans to issue a Letter of Intent to TATA Group in the near future, followed by signing a share purchase agreement for the airline and its two subsidiaries. The Government aims to complete the transaction by Dec-2021. [more - original PR] [more - original PR - II]