Link Legal has successfully advised Air India Limited, the national carrier of India in its disinvestment transaction, pursuant to which the Government of India transferred its stake in Air India Limited, Air India Express Limited and Air India SATS Airport Services Private Limited to Tata Sons through a competitive tendering process.
The Firm assisted Air India and its subsidiaries in undertaking a vendor due diligence on material contracts, pending litigation and human resources matters of Air India and its subsidiaries for the benefit of the prospective bidders interested in acquiring the GoI stake. The scale of the due diligence was humongous and resources from the Firm were involved across 6 locations in India. This is one of the biggest disinvestment transaction in India.
The team from Link Legal was led by Nusrat Hassan (Co-Managing Partner), Anand Srivastava, Anuj Trivedi, Milind Jha, Sanjay Gupta and Bhalchandra Palav (Partners) who were supported by Rajan Dubey, Aditya Bhardwaj and Neha Singh (Associate Partners), Shailender Sharma, Akshay Bhagchandani and Kashish Arora (Principal Associates), Aditi Sharma and Yasmeen Sabir (Senior Associates) and Anjali Sharma, Nikhil Jain and Aniket Dighe (Associates).
Cyril Amarchand Mangaldas represented Government of India, and AZB & Partners represented Tata Sons in this transaction.
The matter has been reported in different media publications as follows:
- https://www.financialexpress.com/industry/air-india-sale-disinvestment-privatisation-live-bid-winner-winning-bidder-announcement-ratan-tata-ajay-singh/2346403/
- https://www.businessinsider.in/india/news/air-india-divestment-government-may-inform-qualified-bidders-by-january-30/articleshow/80297606.cms
- https://indianexpress.com/article/business/aviation/air-india-divestment-history-suggests-still-some-way-to-go-7111741/
- https://www.businesstoday.in/sectors/aviation/air-india-disinvestment-centre-to-intimate-qualified-bidders-on-jan-5/story/424571.html
- https://www.livemint.com/companies/news/disinvestment-of-air-india-finally-seems-to-take-off-11608134324477.html
- http://www.businessworld.in/article/Civil-Ministry-heading-towards-second-process-of-Air-India-disinvestment/29-12-2020-359404/