Profit

Etihad-Jet Deal Does Not Require Open Offer: Sebi

 Share
EMAIL
PRINT
COMMENTS
Etihad-Jet Deal Does Not Require Open Offer: Sebi

The market regulator said Etihad Airways' purchase of a 24 percent stake in Jet Airways (India) Ltd did not amount to a change in ownership and thereby ruled the Abu Dhabi-based carrier does not need to conduct a tender offer for shares in the domestic carrier.

The ruling comes after the Securities and Exchange Board of India (Sebi) had issued a show cause notice to Etihad in February asking the Abu Dhabi airline on why it should not have to make a tender offer to Jet public shareholders as part of India's takeover code.

Sebi was examining whether the share sale agreement between the two airlines amounted to an acquisition of joint control in the Indian airline.

Copyright: Thomson Reuters 2014



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top