Millennium Post

Etihad to buy 24% Jet stake for Rs 2,056 cr

In the first ever investment by a foreign airline in an Indian carrier, Jet Airways on Wednesday announced plans to sell 24 per cent equity to Etihad Airways for Rs 2,056 crore.

Bringing curtains down on six months of tough negotiations, Jet promoter Naresh Goyal and Etihad President & CEO James Hogan announced the strategic equity alliance in Abu Dhabi under which the Indian private carrier would sell 27.26 million shares in a preferential offer to Etihad at Rs 754.74 a piece.
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