Accenture report on Deccan, Kingfisher merger presented

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Bangalore, Dec 19 (UNI) As the first step towards the merger of low cost airliner Deccan with Kingfisher Airlines, shareholders of Deccan were today presented excerpts of Accenture report at its 12th Annual General Body Meeting here today.

Talking to newspersons after the AGM, Deccan Managing Director G R Gopinath said the consulting firm had presented a comprehensive report at the meeting in which UB Group Chairman Vijay Mallya, who holds 46 per cent stake in the low cost carrier, was also present.

Declinig to comment on the outcome of the meeting, he said the final decision would be taken only after the meeting of the Board of Directors of Deccan, scheduled for later today.

"The process of the merger will take a long time as it has to pass through lot of statutory procedures. The companies will continue to hold their brand name and serve differet segments in the aviation sector even after the merger," he said.

The UB Board, which met here today, failed to come to any conclusion on the issue.

The AGM was called to consider the Accenture report that recommended the merger.

Tennis Star Vijay Amritraj was also present in the board meeting.

UNI

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