Etihad Airways may offer to sell its stake in Jet Airways at Rs. 150 per share to State Bank of India if an agreement between the various stakeholders is not cobbled up quickly.
According to top sources, high-ranking executives from Etihad met bankers in a bid to try and arrive at a resolution plan, but the talks remained inconclusive. Etihad currently owns a 24 per cent stake in Jet Airways, and with no resolution in sight, will probably exit the company.
Jet Privilege sale
“Etihad may also ask SBI to buy its 50.1 per cent stake in Jet Privilege and additionally take over the Rs. 1,000-crore guarantee for ECBs raised from HSBC. Etihad could consider selling its stake at a discount given the current circumstances, where a deal seems far away,” said a source.
