ICICI Ventures looking to exit Deccan Aviation?

It has been learnt that ICICI Ventures may be looking to exit from its holding in Deccan Aviation.
ICICI Ventures currently holds 6.78% through Western India Trustee and Executor Co as on June 30. Now ICICI Ventures could be looking at two options. According to sources, ICICI Ventures is exploring the option of tendering shares or selling in secondary market through a block deal.
But an open offer maybe inefficient on tax and execution front and also because it's not necessary that all the shares that ICICI Ventures tenders in the open offer might be accepted.
ICICI Bank holds 1.05% in Deccan Aviation. While, Kingfisher radio has made an open offer for 20% of the company. ICICI Ventures has declined to comment on this exit.
18/09/07 Moneycontrol.com (press release)

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Categories: Air Deccan Sep 2007