PIB India:

Government approves the winning bid of M/s Tata Sons’ SPV (M/s Talace Pvt Ltd) for Air India disinvestment at an enterprise value of ₹18000 crore The bid by the consortium led by Ajay Singh was ₹15,100 crore

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)

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

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

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

The brands of Air India 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