Tata Sons increases stake in AirAsia India to 83%

Tata Sons has increased its holding in AirAsia India (I5, Bangalore Int'l) to 83.67% after it acquired an additional 32.67% stake from joint-venture partner AirAsia Group for a total consideration of USD37.66 million. AirAsia Group said in a stock market filing its wholly-owned subsidiary AirAsia Investment Limited (AAIL) will retain a minority stake of 16.33% in AirAsia India. "AirAsia Group has been reviewing its forward business strategy regularly, including its investment in AAI. This transaction will ensure...