New Delhi/Mumbai: A fund managed by JPMorgan Chase is in advanced discussions to team up with Ajay Singh to invest around $200 million (Rs 1,200 crore) in cash-strapped SpiceJetBSE 9.07 % - a move that will help the ailing airline to take off again, said multiple sources aware of the ongoing discussions.
On Tuesday, Tanmaya Misra, Mumbai-based managing director of JPMorgan's Asian Infrastructure fund, accompanied Singh, a co-founder of the airline, to meet senior aviation ministry officials to submit a revival blueprint. "They (JPMorgan) have shown interest in the airline and talked about investing about $200 million along with Ajay Singh. All of these are under discussions at various levels," said a government source.
Besides JPMorgan, Morgan Stanley is another institutional investor which is believed to have shown interest, said one of the sources mentioned above, although it is still not clear if it is the PE or any other unit of the US investment bank that had displayed interest.
25/12/14 Mihir Mishra & Arijit Barman/Economic Times
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On Tuesday, Tanmaya Misra, Mumbai-based managing director of JPMorgan's Asian Infrastructure fund, accompanied Singh, a co-founder of the airline, to meet senior aviation ministry officials to submit a revival blueprint. "They (JPMorgan) have shown interest in the airline and talked about investing about $200 million along with Ajay Singh. All of these are under discussions at various levels," said a government source.
Besides JPMorgan, Morgan Stanley is another institutional investor which is believed to have shown interest, said one of the sources mentioned above, although it is still not clear if it is the PE or any other unit of the US investment bank that had displayed interest.
25/12/14 Mihir Mishra & Arijit Barman/Economic Times
