SpiceJet to get 2nd round funding from WL Ross

New Delhi: Low-cost carrier SpiceJet will receive about $65 million (about Rs 260 crore) within a week as the second tranche of investment by US private equity firm WL Ross and Co and by Goldman Sachs.
Wilbur Ross had earlier agreed to invest $80 million in the Delhi-based carrier by buying out its foreign currency convertible bonds from Goldman Sachs Group Inc of the US and Istithmar PJSC, a UAE-based investment house. He also managed to get Goldman to invest $20 million in SpiceJet. The investment was to be made in two tranches.
"The second tranche of about $65 million will be received within a week," SpiceJet Director Kishore Gupta said.
27/09/08 Press Trust Of India/Business Standard

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Categories: Foreign Sep 2008, SpiceJet Sep 2008