New Delhi: Capital market regulator Sebi is taking a fresh look at the Rs 2,060 crore Jet Airways, Etihad Airways deal following observations made by fair trade watchdog Competition Commission.
Abu Dhabi-based Etihad Airways' acquisition of a 24 per cent stake in Naresh Goyal-led Jet Airways, the first foreign direct investment (FDI) in an Indian carrier by an overseas airline, was announced in April 2013 and approved by the Securities and Exchange Board of India (Sebi) last year.
Sources said Sebi is looking afresh at the deal after the Competition Commission of India (CCI) made observations regarding control over Jet Airways. The CCI, while giving its green signal to the transaction in November, had said there were no anti-competitive concerns.
"It is observed that the parties have entered into a composite combination comprising inter alia the IA (Investment Agreement), SHA (Shareholder's Agreement) and the CCA (Commercial Co-operation Agreement), with the common/ultimate objective of enhancing their airline business through joint initiatives.
20/01/14 PTI/Financial Express
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Abu Dhabi-based Etihad Airways' acquisition of a 24 per cent stake in Naresh Goyal-led Jet Airways, the first foreign direct investment (FDI) in an Indian carrier by an overseas airline, was announced in April 2013 and approved by the Securities and Exchange Board of India (Sebi) last year.
Sources said Sebi is looking afresh at the deal after the Competition Commission of India (CCI) made observations regarding control over Jet Airways. The CCI, while giving its green signal to the transaction in November, had said there were no anti-competitive concerns.
"It is observed that the parties have entered into a composite combination comprising inter alia the IA (Investment Agreement), SHA (Shareholder's Agreement) and the CCA (Commercial Co-operation Agreement), with the common/ultimate objective of enhancing their airline business through joint initiatives.
20/01/14 PTI/Financial Express
