Jetís 24% stake sale deal with Etihad today

Jet Airways is likely to sign a term sheet and announce a 24 per cent stake sale to Abu Dhabi's Etihad Airways on Friday, sources said. The deal, once concluded, would be the first instance of foreign direct investment in a domestic carrier by an overseas airline firm since the sector was opened up in September 2012.

"The deal is likely to happen in two tranches wherein there will be a direct sale of shares in the first tranche and then a second tranche will see issue of fresh equity and warrants," a person familiar with the development said.

"Post the deal, Naresh Goyal will continue to be promoter and chairman but the board will be expanded to include some nominees of Etihad," the person said. FE

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.