Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways

Volcan Investment's EoI is in now way connected to Vedanta, the company said in a statement

Press Trust of India August 12, 2019 08:43:50 IST
Anil Agarwal's Volcan Investment shows interest in buying stake in defunct carrier Jet Airways
  • Volcan Investment's EoI is in now way connected to Vedanta, the company said in a statement

  • The last date for submission of expression of interest (EoI) was 10 August

  • Of the three entities that submitted EoIs, two are financial players and another is Panama-based fund Avantulo Group

Mumbai: Mining baron Anil Agarwal's investment company, Volcan Investment, on Sunday said that it has shown interest in acquiring stake in defunct carrier Jet Airways.

"Volcan Investment, investment company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways to understand the business scenario for the company and the industry," the company said in a statement.

"This EoI is in no way linked to Vedanta," it added.

Anil Agarwals Volcan Investment shows interest in buying stake in defunct carrier Jet Airways

A file photo of Anil Agarwal. Image courtesy: Twitter/@AnilAgarwal_Ved

The last date for submission of expression of interest (EoI) was 10 August.

Of the three entities that submitted EoIs, two are financial players and another is Panama-based fund Avantulo Group, PTI had reported on Saturday.

Etihad Airways, which holds 24 percent stake in Jet Airways, did not submit the bid.

The three EoIs will be reviewed by the resolution professional (RP) Ashish Chhawchharia to ascertain their eligibility.

Late last month, the RP had floated EoIs for selling stake in the airline that stopped flying mid-April.

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