30-Mar-2010 10:34 AM

SpiceJet announces interest in 51% stake in the carrier

SpiceJet reportedly announced Sun TV promoter, Kalanithi Maran, offered shareholders of the carrier USD156 million (INR7 billion or INR55 per share) for a 51% stake in the carrier (The Economic Times, 30-Mar-2010). If the proposal is approved, it would comprise of a share sale by existing shareholders and the issue of new shares in the carrier. Financial services companies, Religare and Anil Ambani Group have also expressed interest in acquiring a stake in SpiceJet. Financial services company, Edelweiss, is advisor to SpiceJet on these proposals.