Etihad Airways PJSC, which holds 24% stake in Jet Airways on Friday submitted a binding bid to acquire additional minority stake in Jet Airways in the bank-led resolution plan. Lenders had put 75% stake of Jet Airways on sale.
Etihad’s bid came just before the end of the deadline for receipt of binding bids invited by SBI Caps on behalf of lenders. Etihad, which has put several conditions before the lenders including a waiver from making a mandatory open offer, is the only candidate which submitted the binding bid among the four short-listed bidders selected earlier through the Expression of Interest (EoI) process. The others were TPG Capital, Indigo Partners and National Investment & Infrastructure Fund (NIIF).
Confirming the development, an Etihad spokesperson said, “Etihad Airways today confirmed its interest to re-invest in a minority stake in India’s Jet Airways, subject to conditions.”
