Tata Sons to go Full Circle with AI Bid

Tata Sons is likely to go full circle in history with the bidding of AI. It submit an expression of interest (EoI) for Air India, the erstwhile Tata Airlines founded by JRD Tata, who has performed necessary due diligence. The deadline for this is December 14. Tata Sons will not make Singapore Airlines (SIA) a part of the bid in the initial stages, people aware of the development said.

Suitors will have access to virtual data room and all AI records after EoI submission. Companies that qualify will be invited to start making final bids from December 28.

The government seeks to get the privatization program active after failing to sell a majority stake in the loss-making state-owned career two years ago.

Though SIA declined to comment on the current move, Tata Sons has been seeking to persuade it to waive a non-compete clause in their JV agreement and partner in the proposed bid for AI.

The government assured Tatas to iron all the bureaucratic hurdles on the way.

The salt-to-software company aims to make its final bid through Vistara, consolidating its airline businesses under a single entity, said top executives close to the development. However if SIA doesn’t agree to the terms, Tata Sons may have to take the tough decision to exit the JV.