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IHCL to be part of Tata's bidding consortia for AI

Our Bureau

MUMBAI, Dec. 5

THE Rs 618.42-crore Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels, will be part of the Tata interest partnering Singapore International Airlines (SIA) in a consortium bidding for Air India.

``The principal player in that will be Tata Sons, which is the holding company. But the holding company will pick as its partners some companies of the Tata group. And in that pack of companies, number one would be Indian Hotels,'' Mr R.K. Krishna Kumar, Managing Director, IHCL, said here today.

Earlier on November 9, the Tata group had officially announced that Tata Sons Ltd -- the group's main holding company -- and ``its Indian affiliates'' would be leading a consortium with SIA, for the bid to acquire 40 per cent equity in AI.

The names of any Tata group companies which would be forming the Tata half of the consortium were not disclosed then, though the equity divide between the Tatas and SIA was projected as a likely 24:16, with the Tatas holding majority stake.

The Tatas have since submitted expressions of interest (EI) for both AI and Indian Airlines.

Contacted today, following IHCL's confirmation of its interest to be part of the bidding consortium for AI, the group spokesman, however, declined comment on which the other participating Tata companies would be.