Tata Sons in talks to buy out AirAsia India stake at steep discount
Global Economy
09 July, 2020, 04:30 pm
Last modified: 09 July, 2020, 04:32 pm
Tata Sons will likely tie up with other financial investors to acquire AirAsia’s 49 percent stake in the venture, according to the newspaper
AirAsia Airbus A320-200 planes are seen on the tarmac of Kuala Lumpur International Airport 2 (KLIA2) in Sepang, Malaysia, February 4, 2020. REUTERS/Lim Huey Teng/Files
Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd's stake in their airline joint venture in India at a steep discount, the Business Standard newspaper reported on Thursday, citing banking sources.
Tata Sons will likely tie up with other financial investors to acquire AirAsia's 49 percent stake in the venture, according to the newspaper.
Malaysian budget carrier AirAsia said earlier in the day that it was in talks to raise more than 1 billion ringgit ($234.52 million) in funds, a day after its auditor cast doubt on its ability to continue as a going concern.
Tata Sons declined to comment. AirAsia did not immediately respond to a request for comment.
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