Etihad will pick 24% in Jet for $375M, may have more board nominees than Naresh Goyal | VCCircle
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Etihad will pick 24% in Jet for $375M, may have more board nominees than Naresh Goyal

BY  Pooja Sarkar
Separately, Jet promoter Naresh Goyal will also sell stake worth around $160 million by June.

Etihad Airways of the UAE is close to sewing a two-tiered deal to buy 24 per cent stake in Jet Airways, India’s second largest carrier, in a deal expected to be worth Rs 2,000 crore ($375 million), according to sources. This will be the first such stake acquisition by a foreign airline after the Indian government opened up the aviation sector in September, allowing foreign carriers to pick as much as 49 per cent stake in domestic airlines.

The deal has been in the works for the past two months, but the final contours have become clear now as the...

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