)
Vistara is 51% owned by Tatas and 49% by SIA. The proposed merger of Vistara into AI will have SIA as a 25. 1% stakeholder in the merged entity and the rest will be with Tatas. SIAwill invest $250 million as soon as this integration is completed, valuing the upcoming mega AI at about $1 billion. The Southeast Asian airline says it intends to fully fund this investment with its internal cash resources, which stood at S$17. 5 billion as of September 30, 2022.
“…to aid CCI’s assessment of the proposed transaction, the following relevant markets have been identified: Horizontal overlaps (that includes) domestic and international passenger air transport, air cargo transport services in India, and chartered flight services in India. Vertical relationships (include) ground handling services at the Bengaluru, Delhi, Hyderabad and Thiruvananthapuram airports… in-flight catering services in India,” the application says.
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