KAL Airways purchases 7.42% equity share capital in SpiceJet

KAL Airways purchased 28,594,400 equity shares or 7.42% voting rights of SpiceJet Ltd at INR47.25 per share through an off-market transfer (ibtimes.com/Press Trust of India, 12-Oct-2010). The acquisition is pursuant to a share purchase agreement dated 12-Jun-2010, executed among SpiceJet, KAL Airways, Kalanithi Maran, WLR Recovery III (India) Ltd, WLR Recovery IV/ESC (India) Ltd, India Asset Recovery Fund Ltd and WLR/GS (India) Ltd. KAL Airways' direct stake in SpiceJet has now increased to 25.1%. [more] [more - Open Offer]