New Delhi: Jet Airways' proposed sale of a 24 per cent stake to Abu Dhabi-based Etihad has got Sebi's go-ahead after both carriers revised their deal to comply with conditions set by the markets regulator.
After studying the revised deal structure, Sebi was of the opinion that the Rs 2,058 crore transaction would not trigger a mandatory open offer for purchase of shares from public shareholders and Etihad would not be considered a promoter entity in Jet Airways.
However, Sebi has left it to the government to take a final call on the revised Commercial Cooperation Agreement ( CCA) proposed by Jet and Etihad Airways, sources said.
01/10/13 PTI/Economic Times
To Read the News in full at Source, Click the Headline
After studying the revised deal structure, Sebi was of the opinion that the Rs 2,058 crore transaction would not trigger a mandatory open offer for purchase of shares from public shareholders and Etihad would not be considered a promoter entity in Jet Airways.
However, Sebi has left it to the government to take a final call on the revised Commercial Cooperation Agreement ( CCA) proposed by Jet and Etihad Airways, sources said.
01/10/13 PTI/Economic Times
