Oman SWF in talks with India’s SpiceJet – report

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Oman’s sovereign wealth fund is among the parties in talks to take a shareholding in Indian low-cost airline SpiceJet, it was reported.

Business newspaper LiveMint, citing an individual involved in negotiations, said that Oman Investment Fund was joined by a number of other Middle Eastern funds, foreign airlines and an Indian conglomerate.

Earlier this month Dubai’s Emirates Airline denied reports it was in talks to acquire a stake in the Chennai-based carrier, which has also been linked to tie-ups with Qatar Airways and Kuwait Airways. A deal is said to not be imminent.

“There are a few Middle-Eastern funds, including Oman Investment Fund, currently talking to the company. In all likelihood, it will be a strategic investor who will do the transaction, with backing from PE (private equity) investors,” the source was quoted as saying. “The deal is not near a closure right now. It will take time.”

Oman Investment Fund currently has about $6bn worth of assets under management. It invests in sectors including transport, telecommunications and utilities.

Debt-laden SpiceJet’s CEO Neil Mills resigned last month, bolstering speculation that the carrier’s shareholders were paving the way for a tie-up with a third party airline.

Mills told Arabian Business last year that SpiceJet had held preliminary talks with unspecified Gulf carriers.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai ruler to attend opening of Suez Canal expansion

Dubai ruler to attend opening of Suez Canal expansion

Project is the centrepiece of President Abdel Fattah Al Sisi...

Paris Airshow: Few orders likely as focus shifts to production backlog

Paris Airshow: Few orders likely as focus shifts to production backlog

Europe’s aviation showcase opens on Monday; may struggle to live...

How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

Most Discussed