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Jet Air Sells 24 % Stake To Etihad Airways

PUBLISHED BY: SURENDER KUMAR
APRIL 24, 2013

   
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Jet Airways and Etihad have finally sealed a deal, with the former selling 31.55 % stake to its Abu Dhabi-based peer for Rs 2,030 crore. Jet will sell 2.73 crore shares to Etihad at Rs 754.74 a piece on a preferential basis, a premium of around 32 % over the current price..


 

This is the first deal in Indian aviation since the government relaxed ownership rules and allowed foreign airlines to buy up to 49 % stake in Indian airlines.  The shareholders' approval for the allotment will be sought later at an extraordinary general meeting.



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