India has agreed to sell Air India to Tata Conglomerate for $ 2.4 billion

Image Credit: 📸 airindia
Image Credit: 📸 airindia

Delhi:  The Indian government has agreed to sell the heavily-indebted Air India to the Tata conglomerate for 180 billion rupees ($2.4 billion), the finance ministry said Friday

Tuhin Kanta Pandey, head of the government privatization department, said that Talace PVT Ltd, a subsidiary of the Tata Conglomerate, won the bidding for the airline

“The transition is expected to close by end of December 2021,”he added.

Tata sons, the holding company for the autos-to-steel Tata conglomerate, bid 180 billion rupees ($2.40billion) for the government’s 100% stake in Air India, a finance ministry official told reporters.

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.