SINGAPORE (Sept 29): Airline gateway services and food solutions provider SATS is selling its 30% stake in its inflight catering facility in India, Taj Madras Flight Kitchen, to Taj SATS Air Catering for 178.7 million rupees ($3.5 million).
SATS owns 49% of Taj SATS Air Catering, which is a joint venture between the company and Indian Hotels Company.
Following a corporate restructuring exercise, Taj SATS Air Catering intends to acquire 100% ownership of Taj Madras Flight Kitchen from all its shareholders.
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