Accenture suggests Kingfisher-Deccan merger: report

The Board of UB Holdings Ltd. is likely to consider a merger between Kingfisher Airlines and Deccan Aviation on Wednesday based on the recommendation of consulting firm Accenture, says a financial daily.
The modalities of the deal will be decided by a financial consultant to be appointed by the UB Holdings Board, the newspaper says. It is unlikely to be a reverse merger i.e., Kingfisher Airlines merging into Deccan Aviation because of tax implications, it adds.
According to the Accenture plan, Deccan Aviation’s charter division, which operates helicopters, should be spun off into a separate company, says the financial daily. It is likely that the venture may be headed by the Deccan Aviation founder Captain Gopinath, it adds.
Kingfisher Airlines is controlled by UB Holdings while Deccan Aviation is the parent company of India's first low-cost carrier Air Deccan.
18/12/07 India Infoline.com

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Dec 2007, Simplifly Deccan Dec 2007