NEW DELHI: Malaysian carrier AirAsia Berhad on Tuesday said it has sold its 32.67% stake in AirAsia India to Tata Sons for $37.66 million ( ₹276.10 crore), bringing down its shareholding in the airline to about 16.33%. Also Read | How Indians lived online during 2020Prior to the transaction, AirAsia Berhad held a 49% stake in AirAsia India, while Tata Sons held 51%. As part of the transaction, Tata Sons has the option to pick up AirAsia Berhad's remaining 16.33% after the closure of the current transaction. AirAsia Berhad had in June approached the Group to sell its stake, as mandated by the terms of the joint venture under which Tata Sons has the first right to buy out the shares. A Tata group spokesperson didn't offer comments.

Source: Mint December 29, 2020 12:45 UTC