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Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India.
Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA).
As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
“This would give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence in all key market segments. SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals,” SIA said in a release.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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