India Business Journal - Tatas, employees’ group bid for Air India

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Tatas, employees’ group bid for Air India

IBJ Bureau
Dec 31, 2020

The Centre has said that it has received “multiple expressions of interest” to buy stake in Air India. The Tata Group and a consortium comprising several of the debt-laden airline’s employees and a US-based investment firm, debt-laden airline, Interups, are the two confirmed bidders among those seeking to buy stake in the national carrier. The government is expected to notify the qualified bidders on January 5. This is the government’s second attempt at disinvesting its stake in the airline after the previous move in 2018 ended up without a bid. The government has allowed potential investors to bid on the basis of enterprise value. This effectively allows bidders to determine the debt level that they would want to take on.