Rs. 250-crore drop in enterprise value as per revised proposal
MUMBAI:
As part of the revised deal to buy out Air Sahara, private carrier Jet Airways will have to pay Rs.950 crore in cash.
Putting an enterprise value of Rs.2,050 crore for Air Sahara, Jet is understood to have worked out a deal wherein as much as Rs.600 crore is expected to be adjusted as arrears, interest and other liabilities.
The deal would, however, not include the fixed assets as also the helicopters.
While there was no official confirmation from either side about the financial details, sources said that a creditor's deduction of over Rs.200 crore is not being accepted by Jet, which is the reason behind the drop in Air Sahara's enterprise value from about Rs.2,300 crore, worked out when the deal was first struck, to Rs.2,050 crore now. — PTI
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