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India's Cabinet Committee on Economic Affairs approves Jet Airways-Etihad stake sale deal

4-Oct-2013 11:02 AM

India's Cabinet Committee on Economic Affairs (CCEA) stated (03-Oct-2013) it has given its approval to the proposal of Etihad Airways for subscribing 27.26 million equity share of INR10/share in Jet Airways amounting to 24% of the post issue paid up equity share capital "for an amount not exceeding Rs.2057.66 crore". The Foreign Investment Promotion Board (FIPB) recommended the proposal. It said the approval will result in foreign investment of INR20.6 billion (USD332 million), the government said. [more - original PR]