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Darwin Group, SBI discuss 'unsolicited' bid for Jet Airways

Updated : May 15, 2019 03:31 PM IST

Officials of Darwin Platform Group of Companies and SBI Caps Wednesday held discussions on the Group's unsolicited bid for crisis-hit Jet Airways.

Darwin Platform Group, which has investments across various sectors including oil and gas, hospitality and realty, among others has offered Rs 14,000 crore to acquire the grounded airline, its CEO Rahul Ganpule said.

The Group had participated in expression of interest (EoI) and also submitted its financial bid on May 8, he said.

Banks estimate showed Jet Airways' capital requirement at Rs 5,900 crore to run operations, multiple people aware of the matter told CNBC-TV18.

Etihad has promised to invest only Rs 1,700 crore, while the remaining amount needs to be taken care of by one or more strategic investors, said the sources.

Indian conglomerate Hinduja Group has been offered a stake in the debt-laden Jet Airways by the lenders and Etihad Airways, said the sources, adding that the talks with Hinduja Group are still at an initial stage.

There are other strategic players involved as well but Tatas are not one of them.

(With PTI inputs)
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