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PIB India Profile picture
@PIB_India
Oct 8, 2021 • 7 tweets • 7 min read • Read on X
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Government approves the winning bid of M/s Tata Sons’ SPV (M/s Talace Pvt Ltd) for @airindiain disinvestment at an enterprise value of ₹18000 crore

The bid by the consortium led by Ajay Singh was ₹15,100 crore - @SecyDIPAM

#AirIndia
Non-core assets including land and buildings with book value of ₹14,718 crore will not be given to the acquirer but will be transferred to GoI's @airindiain Assets Holding Limited (AIAHL) - @SecyDIPAM

#AirIndia
M/s Talace Pvt Ltd emerged as the successful bidder for the sale of equity shareholding of Government of India in @airindiain and AI's shareholding in AIXL and AISATS along with management control - @SecyDIPAM

#AirIndia
The Letter of Intent (LOI) will be issued and the Share Purchase Agreement (SPA) will be signed with the successful bidder. After regulatory and other approvals, the transaction is expected to close by December 2021 - @SecyDIPAM

#AirIndia
The winning bidder will retain all the employees. Nobody to be retrenched for one year. If after a year they are to be removed, they will be offered a VRS.

Gratuity and PF benefits to be provided - Secretary, @MoCA_GoI

#AirIndia
The brands of @airindiain have eight logos that will be handed over to the new bidder and cannot be transferred for a period of five years.

Even after the 5-year period, it cannot be transferred to any foreign entity - @SecyDIPAM

#AirIndia
Government approves #AirIndiaDisinvestment

𝗧𝗮𝘁𝗮 𝗦𝗼𝗻𝘀 𝘄𝗶𝗻𝘀 #𝗔𝗶𝗿𝗜𝗻𝗱𝗶𝗮 𝗯𝗶𝗱 𝗳𝗼𝗿 ₹ 𝟭𝟴,𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲

Read Details: pib.gov.in/PressReleasePa…

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More from @PIB_India

PIB India Profile picture
May 12, 2023
PM @narendramodi addresses Akhil Bhartiya Shiksha Sangh Adhiveshan, Valod, Gandhinagar.

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PIB India Profile picture
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PM @narendramodi has always acknowledged the contribution of Shramjeevis in the progress of the country.

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1/n Image
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#Shramjeevis

2/n Image
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#Shramjeevis

3/n Image
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His statement on the occasion Image
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@MauritiusPM Image
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