Low-cost carrier SpiceJet Ltd is planning to raise funds from private equity (PE) companies such as The Blackstone Group and Bain Capital, and other potential investors including foreign airlines. “Various investors, including some PE funds, have approached SpiceJet, and we are in talks with them. As of now, we have not finalised any deal, but if everything goes well, we may enter into a mutually beneficial deal,” said a SpiceJet spokesperson, while refusing to name any of the potential investors.
Market sources, however, said some of the PE players interested in the budget airline include Blackstone, Bain Capital and KKR.
Attempts to talk to executives from the PE funds were not successful. Blackstone and KKR responded to email queries sent by Business Standard, offering “no comments” on the issue. Questions emailed to the officials of Bain Capital remained unanswered till the time of filing the story.
15/06/12 Business Standard
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