VCCircle

Vijay Mallya's personal indulgences continue. As reported earlier, the Indian liqour and aviation baron has picked up "significant" stake (media reports suggest 50 per cent stake for $120 million) in the US-based small aircraft maker Epic Aircraft. EPIC makes light jets and turboprops. Probably Mallya would be seeing India as an exciting market for such planes since Indian billionaires are just getting richer and richer and may spend money on acquiring such toys.
"Epic was looking for a strategic partner. Dr Mallya now has a significant interest in our company and we will benefit from his relationship with companies including Airbus and Pratt & Whitney," a statement by Epic President Rick Schrameck said. Not sure what Mallya brings in except for the glam factor. (Of course, he will be the brand ambassador for the company in India, and he throws yacht parties for the rich on a regular basis. The attendees can be potential clients.) Also not to discount his rich friends in Dubai and elsewhere.
Only last month, Vijay Mallya acquired the Netherlands-based Spyker Formula One team for $109 million. Mallya partnered with Michiel Mol, Director of Formula 1 at Spyker, in the deal.