Tata Sons will enhance its shareholding in low-cost carrier -- AirAsia India -- by buying 32.67 per cent equity stake of its JV partner AirAsia Group Berhad. The budget airline is a JV in which Tata Sons owns 51 per cent stake, while 49 per cent is held with AAIL. In a regulatory filing made to Bursa Malaysia, AirAsia Group Berhad said the transaction via a share purchase agreement with Tata Sons was agreed by AAIL's Board. Accordingly, 490,000,000 ordinary shares of Rs 10 each, equivalent to 32.67 per cent of the issued and outstanding shares of AirAsia India will be sold to Tata Sons for a consideration of $37.66 million. AirAsia Group Berhad via a subsidiary -- AAIL -- holds 735,000,000 ordinary shares in AirAsia India of Rs 10 each.

Source: dna December 29, 2020 17:30 UTC