Election Result 
MADHYA PRADESH - 230
PartyLW
CONG1120
BJP1054
IND40
OTH50
RAJASTHAN - 199
PartyLW
CONG7526
BJP5715
IND84
OTH86
CHHATTISGARH - 90
PartyLW
CONG4918
BJP123
BSP+71
OTH00
TELANGANA - 119
PartyLW
TRS285
TDP, CONG+120
AIMIM07
OTH13
MIZORAM - 40
PartyLW
MNF026
IND08
CONG05
OTH01
  • search

Jet-Sahara extend merger plan by 90 days

Written by: Staff
|

New Delhi, Mar 23 (UNI) Jet Airways and Air Sahara today agreed to extend the terms of share purchase agreement by 90 days, ending a day full of speculation that there was a price re-negotiation for the biggest merger in Indian aviation.

A joint statement issued late night said the enterprise value remains the same, that is 500 million dollars (about Rs 2,300 crore).

The statement was signed by chairman of Jet Airways Naresh Goyal and chief of the Sahara Pariwar Subrata Roy.

It capped a day of confusion, contradictory statements by unnamed airline officials and wild speculation which kept aviation journalists hopping from one hotel to another, from the ministry of civil aviation to the residence of civil aviation minister Praful Patel who had left for Mumbai in the morning.

Ultimately, over a dozen of them landed at the airport in evening where Jet Airways executive director Saroj Datta arrived to catch the flight for Mumbai. He left without dropping a clue of what happened during the meetings.

Mr Goyal was also scheduled to take the flight to Mumbai but did not turn up at the IGI airport ultimately. He and top airline officials had flown in morning to start meetings with Sahara officials.

More UNI SU SB DB2331

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more