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Jet Airways surges on Etihad deal report

Etihad Airways is close to buying 24% stake in Jet Airways in an Rs 1,500-1,800 crore deal, likely to be concluded within ten days.

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SI Reporter Mumbai

Jet Airways (India) has surged over 5% at Rs 611 on reports that Abu Dhabi-based Etihad is close to buying 24% stake in Naresh Goyal-owned private airline company.

“Etihad Airways is close to buying 24% stake in Jet Airways in an Rs 1,500-1,800 crore deal, likely to be concluded within ten days,” the Business Standard report suggests quoting a top civil aviation functionary.

Etihad would be paying 25-50% premium on Jet stock’s as per the Wednesday closing price of Rs 579.60 on the BSE.

The stock opened at Rs 606 and hit a high of Rs 615 on the NSE. A combine around 1.01 million shares have changing hands on the counter in opening deals on both the exchanges.

 

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First Published: Jan 03 2013 | 9:20 AM IST

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