Final check before Jet-Sahara takeoff

Mumbai: Jet Airways and Air Sahara have virtually sealed a deal that will pave the way for the Naresh Goyal-promoted airline to acquire the latter for at least Rs 1,450 crore.
“The final draft of Jet-Air Sahara deal will be completed tonight and will be presented to the arbitration panel tomorrow for a final decision,” Jet Airways counsel Harish Salve told newspersons here.
He added that while the deal was a big one, there were certain changes that had to be carried out in the original share purchase agreement (SPA), which would be rewarded and finalised by tonight.
Although officials from both the airlines refrained from making any comment, it is understood that both the sides were preparing rough drafts on the deal till late evening. Though there were few minor differences between the two sides, those were largely limited to the “fine-print” of the deal. The two sides are likely to bring out a joint order after evaluating each other’s proposals.
12/04/07 The Telegraph

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Categories: Air Sahara Apr 2007, Jet Airways Apr 2007