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Article: PE firms approach GoAir to pick up minority stake.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- January 16, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PE firms approach GoAir to pick up minority stake
New Delhi, Jan 16 (PTI) -- Wadias-promoted GoAir has been approached by various private equity players for acquisition of a minority stake, while valuing the low-cost private carrier at 400 million dollar (about Rs 1,600 crore).
Global consulting firm Ernst and Young, on behalf of other players, has approached the company and Wadias have held discussions with them, market sources said.
When contacted, a spokesperson for the airline said: "E&Y has approached us on behalf of various buyers who are interested in buying a minority stake in GoAir." Private equity investors who have evinced interest ...