This article is more than 2 year old.

Tata group begins ground work to acquire controlling stake in Jet Airways: report

Mini

Saurabh Agarwal, chief financial officer of Tata Sons Ltd, is taking the lead for holding the discussions while Jet Airways is represented by its chairman Naresh Goyal, sources told the paper.

Tata group begins ground work to acquire controlling stake in Jet Airways: report
Tata Group is conducting due diligence of Jet Airways (India) Ltd as the conglomerate explores the acquisition of a controlling stake in the airline, two Mint reported, citing sources.
Saurabh Agarwal, chief financial officer of Tata Sons Ltd, is taking the lead for holding the discussions while Jet Airways is represented by its chairman Naresh Goyal, sources told Mint.
“An in-house team of Tata Sons is currently conducting due diligence on Jet Airways, which is expected to continue for the next few weeks,” the sources told the paper, adding that the conglomerate is also keen in acquiring Jet's stake in JetPrivilege.
“Things have moved at a fast pace since then and Goyal has in principle agreed to cede control to Tatas, subject to fulfillment of certain conditions,” unnamed sources were quoted by the paper.