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Sebi reserves comments on Etihad open offer waiver on Jet Airways, says report

Sebi reserves comments on Etihad open offer waiver on Jet Airways, says report

Sebi reserves comments on Etihad open offer waiver on Jet Airways, says report
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By CNBC-TV18 Feb 12, 2019 10:14:20 AM IST (Published)

The exemption for making an open offer waiver was among one of the key conditions put forth by Etihad Airways to offer some relief to Naresh Goyal's Jet Airways, the report added.

The Securities and Exchange Board of India (Sebi) has reserved its comments on granting open offer waiver to UAE-based Etihad Airways to the minority stakeholders of the debt-laden Jet Airways, Business Standard reported.

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According to sources aware of the development, exemption for making an open offer waiver was among one of the key conditions put forth by Etihad Airways to offer some relief to Naresh Goyal's Jet Airways, the report added.
"During an informal discussion with lenders and stakeholders, the regulator has said that such an exemption is against Sebi's takeover norms and might not be favourable for the minority shareholders of the airline," Business Standard reported citing sources.
Sebi's statement comes at a time when Jet's stakeholders, as well as lenders, have informally sought for the regulator's views on the possibility of a waiver, the report said.
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