29-Mar-2016 8:32 AM

Tata Sons increases stake in AirAsia India to 49%

Tata Sons entered (28-Mar-2016) into an agreement with AirAsia India, Telestra Tradeplace (Telestra) and two of the directors of the company, being S Ramadorai (chairman) and R Venkataramanan, under which Tata Sons proposes to increase its stake in the company from its existing stake of 41.06% to to 49%, by acquiring 7.94% equity stake from Telestra. Mr Ramadorai and Mr Venkataramanan, in their individual capacity, propose to acquire 0.5% and 1.5% shareholding respectively of Telestra's remaining 2% equity stake in the company. AirAsia Investment will continue to hold its 49% in the company. The agreement was entered into on 14-Mar-2016, and the transaction is proposed to be completed in Apr-2016, subject to completion of the relevant corporate approvals and processes. [more - original PR]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More