Etihad Airways has held talks with Jet Airways over the proposed acquisition of a further 25% stake in the Indian carrier.
Sources who spoke to India's Financial Express indicate the two sides have now reached a tentative deal after agreeing on a valuation of the shareholding.
Jet, whose total debt stands at INR119.2 billion (USD1.734 billion), reportedly plans to raise USD300-400 million through the issuance of convertible bonds to which Etihad would subscribe. Once the conversion takes place, Etihad’s stake will increase to 49%.
22/02/16 ch-aviation
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Sources who spoke to India's Financial Express indicate the two sides have now reached a tentative deal after agreeing on a valuation of the shareholding.
Jet, whose total debt stands at INR119.2 billion (USD1.734 billion), reportedly plans to raise USD300-400 million through the issuance of convertible bonds to which Etihad would subscribe. Once the conversion takes place, Etihad’s stake will increase to 49%.
22/02/16 ch-aviation
