Loading
20-Oct-2010 10:44 AM

Kalanithi Maran purchases additional 2.28% stake in SpiceJet

SpiceJet announced Sun TV Founder, Kalanithi Maran, and his unlisted aviation firm KAL Airways have acquired an additional 9.22 million shares or 2.28% stake in SpiceJet through an off-market transaction (Reuters, 19-Oct-2010). Mr Maran's direct holding in the carrier now stands at 26.2%. In Jun-2010, Mr Maran and KAL Airways agreed to purchase a 37.7% stake in the carrier from US investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, for INR7.39 billion (USD166.6 million) at INR47.25 a share. [more]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More