<p>Jet Airways chairman Naresh Goyal on Thursday picked up over 29 per cent stake in the private carrier from another promoter entity for about Rs 1,434 crore. <br /><br /></p>.<p>The shares were purchased from Tail Winds Ltd, a company incorporated in the Isle of Mann and wholly-owned by Goyal. According to information available with the stock exchanges, Goyal purchased 2.51 crore shares, amounting to 29.13 per cent stake, of Jet Airways in his personal capacity. <br /><br />The scrips were bought on an average price of Rs 570 valuing the transaction to Rs 1,433.46 crore. At the end of March quarter, Tail Winds held 6.90 crore shares or 79.99 per cent stake in Jet Airways, while Goyal owned 9,995 scrips, amounting to 0.01 per cent holding, in the company in his personal capacity. <br /><br />Forging a strategic alliance, Jet Airways has decided to sell 24 per cent stake to Abu Dhabi carrier Etihad Airways for about Rs 2,058 crore. Under the proposed deal, Jet Airways would offload sell 27.26 million shares in a preferential offer to Etihad at Rs 754.74 a piece. <br /><br />At the same time, Goyal's direct holding in the company would rise to 51 per cent through transfer of shares from Tail Winds. <br /><br />Sebi, CCI seek clarity on Jet-Etihad deal<br /><br />Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity on the deal to ensure overall competition in the aviation market is not affected.<br /><br />Separate clarifications have been sought on the deal, which involves a 24 per cent stake purchase in Jet by Etihad, by Sebi and trade watchdog Competition Commission of India.</p>
<p>Jet Airways chairman Naresh Goyal on Thursday picked up over 29 per cent stake in the private carrier from another promoter entity for about Rs 1,434 crore. <br /><br /></p>.<p>The shares were purchased from Tail Winds Ltd, a company incorporated in the Isle of Mann and wholly-owned by Goyal. According to information available with the stock exchanges, Goyal purchased 2.51 crore shares, amounting to 29.13 per cent stake, of Jet Airways in his personal capacity. <br /><br />The scrips were bought on an average price of Rs 570 valuing the transaction to Rs 1,433.46 crore. At the end of March quarter, Tail Winds held 6.90 crore shares or 79.99 per cent stake in Jet Airways, while Goyal owned 9,995 scrips, amounting to 0.01 per cent holding, in the company in his personal capacity. <br /><br />Forging a strategic alliance, Jet Airways has decided to sell 24 per cent stake to Abu Dhabi carrier Etihad Airways for about Rs 2,058 crore. Under the proposed deal, Jet Airways would offload sell 27.26 million shares in a preferential offer to Etihad at Rs 754.74 a piece. <br /><br />At the same time, Goyal's direct holding in the company would rise to 51 per cent through transfer of shares from Tail Winds. <br /><br />Sebi, CCI seek clarity on Jet-Etihad deal<br /><br />Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity on the deal to ensure overall competition in the aviation market is not affected.<br /><br />Separate clarifications have been sought on the deal, which involves a 24 per cent stake purchase in Jet by Etihad, by Sebi and trade watchdog Competition Commission of India.</p>