Jet, Godrej may ink Mumbai land deal

Jet Airways and Godrej Properties are likely to ink the much-awaited Bandra-Kurla complex (BKC) land deal in three weeks, suggest media reports. A memorandum of understanding has been signed and due diligence is currently on. However, both Jet and Godrej Properties, in an analyst call recently, had mentioned that development is on in this regard and as and when the deal shapes up, the companies will make an announcement subsequently. A Jet spokesperson said: “ Various parties have approached us to invest in the development of the project, but nothing has been finalised. Jet had purchased this land parcel in 2008 from the Mumbai Metropolitan Region Development Authority. The amount in consideration for Godrej is Rs 1,100-1,200 crore, say reports.
25/06/10 Financial Express

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Categories: Jet Airways Jun 2010