ADAG ups stake in Deccan Aviation to 10.76%

Mumbai: ADAG has increased its stake in Deccan Aviation to 10.76% at the end of January, up from just over 3% in the September quarter.
The investment has been made through group companies like Reliance Life Insurance and Reliance Capital trustees. Even as the Anil Ambani group increased its stake, other investors like the London-based Investec bank, UBS Securities and ICICI Ventures have exited the company.
Investec had picked up a 1.45% stake in the low-cost carrier when it signed a $100-million deal to buy the rights to Air Deccan’s delivery slots for its Airbus A320 aircraft.
ICICI Ventures was among the early investors in the airline with Capital One, which continues to hold about 3% through its investment arm Subria. The public holds about 34% of the company while the UB group’s stake is now up to 49.77%.
08/02/08 Cockoo Paul/Economic Times

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Categories: Deccan Feb 2008