Kalanithi Maran raises stake in SpiceJet to 38.66 per cent

New Delhi: South Indian media baron and SunTV Chief Kalanithi Maran and his firm, KAL Airways, have raised their direct holding in low-cost air carrier SpiceJet to 38.66 per cent through the purchase of an additional 7.68 per cent stake for Rs 146.86 crore.
Maran and KAL Airways acquired 31.08 million shares, or a 7.68 per cent stake, in the company today through an off- market transaction, SpiceJet said in a filing to the Bombay Stock Exchange.
Acquisition of the additional stake was provided for in the deal signed in June between the Chennai-based industrialist and the then-promoters of SpiceJet, namely American investor Wilbur Ross, his investment companies and Bhulo Kansagara family-promoted Royal Holding Services Ltd. The deal was estimated to be worth about Rs 740 crore.
11/11/10 PTI/Economic Times

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Categories: spicejet Nov 2010, Sun Airways Nov 2010