CCI clears Air India-Vistara merger
Tata Sons Pvt. Ltd. acquiring some shares in the merged entity Air India subject to compliance of voluntary commitments offered by the parties.
The transaction also involves acquisition of additional shares in the merged entity by Singapore Airlines in a preferential allotment. Tata Sons had acquired Air India in January 2022 through its subsidiary Talace Pvt. Ltd.
The Tata group had announced last November that as part of the merger, SIA will invest ₹2,059 crore in Air India. Post the consolidation, SIA will hold 25.1% shareholding in Air India. The deal is to be completed by March 2024.
Tata Sons Chairman N Chandrasekaran then said the merger is an important milestone in the group's "journey to make Air India a truly world-class airline." Air India is focusing on growing both its network and fleet, revamping its customer proposition, enhancing safety, reliability, and on-time performance, he said then. CCI described Tata Sons as an investment holding company registered as a core investment company with the RBI and classified as a “systemically important non-deposit taking core investment company. Air India and its wholly owned arms Air India Express Ltd.
and AIX Connect Pvt. Ltd. together offer domestic scheduled air passenger transport service, international scheduled air passenger transport service, air cargo transport service and charter flight services.
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