Synergy Group signs non-disclosure pact as first step in Jet Airways buyout bid

South American conglomerate the Synergy Group has signed a Non-Disclosure Agreement (NDA) with the resolution professional of Jet Airways. This is the first formal step to acquire the Indian airline and is an indication that the company is a serious bidder for Jet’s assets. The Synergy Group is the first company to sign an NDA so far.

Signing an NDA is mandatory for any company to get access to the data room. A data room essentially has all the important documents related to the company on the block, including contracts for aircraft, agreements with vendors, information relating to employees and other financial data. Synergy will be given some time to examine the books of the airline as part of the due diligence. Once the company completes the exercise, it will place a financial bid for acquiring the assets.