Etihad likely to pick 24% stake in Jet Airways by Feb
“Final negotiations are going regarding the valuations,” said one of the persons. “Things should be wrapped up by the first week of February. At the moment Jet and Etihad’s internal teams are working out the final modalities and valuations.”
Earlier in January, senior government officials said that the deal is expected to take place at R1,500 crore to R1,800 crore. Since then, Jet’s shares have moved up 2.5% to and closed at R594.15 on Tuesday. As per Tuesday’s share price, Jet’s market valuation stands at R5,129 crore.
Jet Airways is also expected to reveal the regulatory process that it will follow when the announcement of the deal is made. The company would need to change the shareholding structure and promoter group company Tail Winds will need to transfer its shareholding to Goyal’s name in order to adhere to foreign investment limits in the aviation sector.
“The process for applying for regulatory approvals will begin after the public announcement of the deal which is likely to be in the first week of February,” one of the persons in the know of the development said.
“Various structures are being explored by the legal and commercial teams and care is being take to ensure
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