Air India: Tata Sons conglomerate seals $2.4bn takeover deal

Same group founded airline in 1932 before it was nationalised in 1953 and since fell into heavy debt

India’s oldest and largest conglomerate, Tata Sons, will take over the country’s debt-laden national carrier Air India.

Its winning bid of 180bn rupees ($2.4bn) beat India’s SpiceJet chief, Ajay Singh, who offered 151bn rupees.

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source https://www.theguardian.com/business/2021/oct/09/air-india-tata-conglomerate-in-24bn-takeover-deal