Govt signs share purchase agreement with Tatas for Air India sale

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