UB to buy out 26 % stake in Air Deccan

Bangalore, May 31 (UNI) The UB Group of liquor baron Vijay Mallya, owning Kingfisher Airlines, will acquire 26 per cent stake in low cost airliner Air Deccan with an investment of Rs 550 crore.

The Air Deccan Board, which met here this evening, approved a preferential allotment of over 35.22 million shares to the UB Group at Rs 155 per share, Air Deccan Managing Director Capt G R Gopinath told newspersons here.

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