NEW DELHI -- Tata Sons, the holding company of India's largest conglomerate Tata Group, has won the bid for Air India, the government announced on Friday, bringing the drawn-out process to a close. The debt-ridden state-run airline returns to the group it was founded by after nearly seven decades of being nationalized.
Tata Sons -- through its wholly owned subsidiary Talace Private Limited -- had submitted the winning bid of 180 billion rupees ($2.4 billion) as the enterprise value of Air India, Tuhin Kanta Pandey, the secretary in the government's Department of Investment and Public Asset Management, told a media briefing.
