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Mergers & Acquisitions | 11 December 2012

Etihad Airways To Buy Stake In Kingfisher

by Ahemad Shaikh
Etihad Airways To Buy Stake In Kingfisher
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Etihad Airways may acquire 48% stake in Kingfisher Airlines for around R3000 Cr, according to Mint.

Abu Dhabi-based Etihad will initially buy a 30% holding in December and a further 18% by next August.

Recently, Etihad was planning to acquire 24% stake in Jet Airways.

Mallya has been seeking a buyer from abroad to save his airline from collapse since the government in September allowed foreign airlines to purchase stakes of up to 49% in domestic carriers.

The debt-ridden airline, named after Mallya's biggest beer brand, has been struggling to survive, owing billions of dollars in taxes and payments to suppliers, lenders and employees.

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