Vedanta’s Anil Agarwal withdraws ‘exploratory’ expression of interest for Jet Airways

MUMBAI: Billionaire Anil Agarwal’s family trust, Volcan Investments, has withdrawn its expression of interest (EoI) for Jet AirwaysNSE -4.90 % a day after the billionaire expressed his interest in the grounded airline.

“The EoI for Jet by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further,” Agarwal said on Monday.

Volcan was one of three players to have shown interest in the debt-ridden airline that is staring at claims worth Rs 25,000 crore. The other two players to have shown interest were Panama-based investment firm Avantulo Group and Russian Fund Treasury RA Creator. The airline did not evince the interest of any strategic player including Etihad Airways that holds 24% in the company.