Govt approves merger of Tata SIA Airlines (Vistara) into Air India
- The Competition of Commission of India (CCI) has approved the merger of Tata SIA Airlines (Vistara) into Air India, and the acquisition of certain shareholding by Singapore Airlines in Air India.
- Tata SIA Airlines (TSAL )which operates under the brand name “Vistara”, is a joint venture between TSPL (an investment holding company) and Singapore Airlines Limited (SIA). TSPL and SIA holding 51% and 49% of the total shareholding, respectively.
- The proposed combination envisages
(a) the merger of Tata SIA Airlines Limited (TSAL/Vistara) into Air India Limited (AIL/Air India), with AIL being the surviving entity (Merged Entity) and
(b) in consideration of the merger, the acquisition of shares in the Merged Entity by Singapore Airlines Limited (SIA) and Tata Sons Private Limited (TSPL) and
(c) acquisition of additional shares in the Merged Entity by SIA pursuant to a preferential allotment.
Points to remember:
- Vistara is being merged with?- Air India
Source: PIB