Tata Sons has agreed to buy an additional 32.67 per cent stake in AirAsia India Limited from its joint venture partner for $37.66 million, increasing its stake in the airline to 83.67 per cent. Tata Sons can also exercise a call option for the remaining stake any time after the transaction, which is slated to be completed by March 2021. At present, AirAsia holds a 49 per cent stake in AirAsia India, while Tata Sons holds 51 per cent.
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