CURRENT AFFAIRS

Detailed explanation-1: -New Delhi: The decades-long process to divest government control of Air India has finally come to an end. The winner is Tata Sons, the holding company of the Tata Group, the Narendra Modi government confirmed on Friday afternoon, confirming multiple media reports that came out last week.

Detailed explanation-2: -Talace won the bid, by offering ₹18, 000 crore in total for the airline against Singh’s ₹15, 100 crore. The reserve price for the deal was set at ₹12, 906 crore.

Detailed explanation-3: -The Tata group today announced the completion of the transaction for the purchase of Air India from the Government of India. The Tata group takes over management and control of the airline, starting today. The transaction covers three entities – Air India, Air India Express, and AI SATS.

Detailed explanation-4: -October 8, 2021: Talace Private Limited, a wholly-owned subsidiary of Tata Group won the bid to acquire Air India.

Detailed explanation-5: -Tata outbid a consortium led by SpiceJet promoter Ajay Singh by offering ₹18, 000 crore. On October 25, the government signed the share purchase agreement with Tata Sons for the divestment of Air India, which is wholly owned by the government.