Monday, June 24, 2013

Jet to submit revised deal with Etihad for FIPB nod

Mumbai: Naresh Goyal-promoted Jet Airways, which is awaiting regulatory approvals to offload 24 per cent stake to the Gulf carrier Etihad Airways, is likely to submit a revised deal to the Foreign Investment Promotion Board shortly, sources said.
"The airline has already submitted the amended deal with Etihad to market regulator Sebi and competition watchdog CCI. It is expected to submit the same to the FIPB shortly," sources close to the development said here today.
Foreign Investment Promotion Board (FIPB) which comes under the finance ministry had deferred a decision on the Jet proposal at its meeting last week and reportedly sought more clarity on the ownership structure and the level of control to be exercised by the Gulf carrier.
24/06/13 PTI/Times of India