July 29, 2013 6:00 PM

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FIPB clears Etihad Airlines buying 24% stake in Jet Airways

Foreign Investment Promotion Board (FIPB) today cleared Abu Dhabi-based Etihad Airlines buying 24 per cent stake in Jet Airways for 2,058 crore rupees. Sources said that the deal has been cleared with some riders like Jet seeking centre's prior approval for any changes in the Share Holders Agreement (SHA) with Etihad. Apart from this, any arbitration would have to be under the Indian law as proposed in the revised SHA submitted by Jet-Etihad to FIPB.

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