Kingfisher likely to pick up stake in Air Sahara:Mallya
New Delhi , Oct. 18
KINGFISHER Airlines is likely to acquire stake in Air Sahara but no decision on the details has yet been finalised, the Chairman of Kingfisher, Mr Vijay Mallya, told reporters here today.
Speaking on the sidelines of the CII meeting on the aviation industry, Mr Mallya said: "Air Sahara is raising equity and we are interested to take a stake. We have signed an Information Memorandum with them prepared by Ernst & Young. We are studying it for a part of the $100-million that Sahara plans to raise."
"According to the memorandum we are to give non-binding offers by the end of October," he said.
Earlier during the meet, the Jet Airways Chairman, Mr Naresh Goel, had denied that Jet is interested in taking stake in Sahara.
Hindu Business Line
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