Tata Sons rebuffs US-based fund Interups' offer to buy AirAsia stake

Interups had not only offered to buy the 49 per cent owned by AirAsia Berhad but also Tata Sons' 51 per cent at the same valuation

The Tata group has refused to acknowledge an offer by US-based fund Interups Inc to buy 49 per cent in AirAsia India, currently owned by AirAsia Berhad (AAB) and the Indian conglomerate.

The Interups offer was endorsed by AirAsia Berhad, which is looking at exiting India due to financial problems faced by the company back home in Malaysia. The Tata group’s consent is necessary for the transaction because both partners have the right of first refusal (RoFR) to each other’s stake.

Interups had not only offered to buy the 49 per cent owned by AirAsia Berhad but also Tata Sons’ 51 per