After the merger, Singapore Airlines will get 25.1 percent stake in Air India
Air India-Vistara Merger: A big news is coming regarding the merger of Air India and Vistara. Singapore Airlines has got approval from the Indian government for FDI for the merger of Air India and Vistara. Singapore’s well-known airline company – Singapore Airlines gave this information on Friday.
Vistara is a joint venture between Tata and Singapore Airlines
Let us tell you that Air India is the airline company of the Indian giant Tata Group. Apart from this, Vistara is a joint venture of Tata Sons and Singapore’s airline company Singapore Airlines Limited. Tata’s stake in Vistara is 51 percent and Singapore Airlines’ stake is 49 percent.
After the merger, Singapore Airlines will get 25.1 percent stake in Air India
After getting approval from the Government of India, the merger process of Air India and Vistara is expected to be completed by the end of this year. After the merger of Air India and Vistara, Singapore Airlines will get 25.1 percent stake in Air India. After the completion of the merger with Vistara, Air India will join the world’s largest airline groups. This proposed merger was announced in November 2022.
SIA informed Singapore Stock Exchange
Singapore Airlines (SIA) on Friday informed the Singapore Stock Exchange that it has received approval from the Indian government for foreign direct investment (FDI) as part of Vistara’s proposed merger with Air India. The airline said that the completion of the merger is subject to compliance with applicable Indian laws by the relevant parties.
NCLT approved the merger in June
The merger of Vistara and Air India is expected to be completed in the next few months. According to the information given by the company, “The proposed merger is expected to be completed by the end of 2024.” This merger will establish one of the largest airline groups. Let us tell you that the merger of Vistara and Air India was approved by the National Company Law Appellate Tribunal (NCLT) in June.
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