Maran launches SpiceJet open offer

Mumbai: Delhi-based low-cost carrier SpiceJet’s new promoters SunTV chief Kalanithi Maran and his company KAL Airways has launched an open offer to acquire an additional 20% stake in the low-cost carrier on October 18. The offer will open on October 18 and close on November 6, said a filing on the Bombay Stock Exchange dated October 13.
In June, the Chennai-based industrialist had clinched a deal to acquire a 37.7% stake in the low-cost carrier for Rs 739.57 crore from American investor Wilbur Ross, his investment companies and the Kansagara family-promoted Royal Holding Services.
Recently, Maran increased his stake in the budget airline to 25.12% by acquiring 7.42% additional stake through off-market transactions.
19/10/10 Financial Express

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

Categories: SpiceJet Oct 2010, Sun Airways Oct 2010