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The road is clear for Jet Airways-Etihad deal

New Delhi, July 29: Foreign Investment Promotion Board (FIPB) has given green signal for the Jet airways-Etihad airlines deal with some conditions. Now, Abu-Dhabi based Ethihad airlines can buy 26% stake in Jet airways for INR 2,058 crores. 
 
According to sources, FIPB has laid out certain conditions for the deal. The conditions include Jet seeking prior Government of India approval for any changes in the Share Holders Agreement (SHA) with Etihad. 
 
Also any arbitration would have to be under Indian law and not English law as proposed in the revised SHA submitted by Jet-Etihad to FIPB. Once both Jet Airways and Etihad agree to the conditions, the deal will be sent to the Cabinet Committee on Economic Affairs (CCEA) for approval.
 
Posted by Robin
 
 
 
 
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