Cyril Amarchand Mangaldas, AZB & Partners and Link Legal advise on Air India sale
The law firms have counseled on the $2.4 billion deal to the Tata Sons-owned firm
By : Legal Era
Update: 2022-02-17 14:00 GMT
Cyril Amarchand Mangaldas, AZB & Partners and Link Legal advise on Air India sale
The law firms have counseled on the $2.4 billion deal to the Tata Sons-owned firm
Cyril Amarchand Mangaldas, AZB & Partners and Link Legal have advised the Government of India on the sale of its flag carrier Air India in a 180 billion rupees ($2.4 billion) deal to Talace, a wholly-owned subsidiary of Tata Sons.
While Cyril Amarchand Mangaldas advised the government, Link Legal represented Air India and AZB & Partners counseled Talace and Tata Sons.
The Tata Group had regained ownership of the airline after nearly 70 years. The deal included three entities - full-service carrier Air India, its low-cost arm Air India Express and also Air India SATS, which provides ground handling and cargo services.
The deal was completed in the last week of January with the government receiving about $360 million in equity and Tata Sons taking over more than $2 billion of Air India's debt.
The AZB team was led by partners Zia Mody, Gautam Saha, Akhilesh Rai, Anuja Tiwari, Divya Mundra, Bharat Budholia, Swati Chauhan and Gaurav Bansal.