A PYMNTS Company

UAE/India: $325M Jet-Etihad merger cleared for takeoff

By  |  November 12, 2013

The proposed merger between Abu Dhabi-based Etihad and India’s Jet Airways has earned clearance from the Competition Commission of India, reports say.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Etihad will acquire a 24 percent stake in Jet Airways; completion of the buyout will likely finalize in about two weeks, according to sources.

    The merger process is also set to include Jet Airways head Naresh Goyal’s sale of 6 percent of his stake in the company, bringing his shareholding down to 51 percent.

    The merger had originally lead to political controversy as well as outcry from India rival Air India, say reports.

    Full Content: Business Standard

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.