Tatas may up AirAsia JV stake to 51%
Tata Sons may emerge as the controlling shareholder in AirAsia India by acquiring stakes held by airline’s chairman S Ramadorai and non-executive director R Venkataramanan, people directly aware of the matter said. The share purchase from the 2 board members comes at a time when the low-cost airline joint venture is plagued by rule-rigging allegations and senior management exits. Tata Sons is likely to snap up the shares as part of a clean-up and consolidation act. Ramadorai, former TCS CE, owns 0.5% in the carrier, while Venkataramanan, CE of Tata Trusts, holds 1.5%. The transaction, when done, will make Tata Sons the largest shareholder of the airline, increasing its stake from 49% to 51%. The remaining 49% is held by Malaysia’s AirAsia. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-09-07/unaligned/tatas-may-up-airasia-jv-stake-to-51
https://portal.staralliance.com/cms/logo.png
Tatas may up AirAsia JV stake to 51%
Tata Sons may emerge as the controlling shareholder in AirAsia India by acquiring stakes held by airline’s chairman S Ramadorai and non-executive director R Venkataramanan, people directly aware of the matter said. The share purchase from the 2 board members comes at a time when the low-cost airline joint venture is plagued by rule-rigging allegations and senior management exits. Tata Sons is likely to snap up the shares as part of a clean-up and consolidation act. Ramadorai, former TCS CE, owns 0.5% in the carrier, while Venkataramanan, CE of Tata Trusts, holds 1.5%. The transaction, when done, will make Tata Sons the largest shareholder of the airline, increasing its stake from 49% to 51%. The remaining 49% is held by Malaysia’s AirAsia. <br/>
