Jet Airways buys Sahara for Rs 1,450 crore

New Delhi, Apr 12 (UNI) Leading private carrier Jet Airways today said it has bought Air Sahara for Rs 1,450 crore.

Of this, Rs 500 crore have already been paid while Rs 400 crore are to be paid immediately, the company said in a communication to the Bombay Stock Exchange (BSE).

The balance Rs 550 crore is payable in four interest free annual equal installments commencing on or before March 30, 2008.

At the current interest rate, the net payable value (NPV) of the lumpsum price is in the vicinity of Rs 1,200 crore.

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