Saturday, Sep 18, 2021 | Last Update : 06:17 PM IST

  Business   Companies  09 Jul 2020  Tata Sons in talks to buy out AirAsia India stake at steep discount

Tata Sons in talks to buy out AirAsia India stake at steep discount

REUTERS
Published : Jul 9, 2020, 3:25 pm IST
Updated : Jul 9, 2020, 3:25 pm IST

Tata Sons will likely tie up with other financial investors to acquire AirAsia’s 49% stake in the venture

 Ratan Tata, Chairman Emeritus of The Tata Group (R) and Air Asia Group CEO Tony Fenandes. Tata Sons is in talks to buy out AirAsia Group Bhd’s stake in their airline joint venture in India. (AFP Photo)
  Ratan Tata, Chairman Emeritus of The Tata Group (R) and Air Asia Group CEO Tony Fenandes. Tata Sons is in talks to buy out AirAsia Group Bhd’s stake in their airline joint venture in India. (AFP Photo)

BENGALURU: Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd’s stake in their airline joint venture in India at a steep discount, an english business newspaper reported on Thursday, citing banking sources.

Tata Sons will likely tie up with other financial investors to acquire AirAsia’s 49% stake in the venture, according to the newspaper.

 

Malaysian budget carrier AirAsia said earlier in the day that it was in talks to raise more than 1 billion ringgit ($234.52 million) in funds, a day after its auditor cast doubt on its ability to continue as a going concern.

Tags: india, tata sons, airasia group
Location: India, Karnataka, Bengaluru