Billionaire Vijay Mallya, who also owns Kingfisher Airlines, plans to pick up a personal, controlling stake in Epic Aircraft, a US-based aircraft manufacturing company, for at least $200 million (Rs820 crore).Epic Aircraft is a manufacturer of private business jets with single and twin engines, capable of carrying six to seven people.
“I am in talks with Epic promoter,” said Mallya, confirming the proposed Epic investment , even as he announced plans to acquire the Spyker Formula 1 autoracing team for €80 million (Rs448 crore) from Spyker Cars NV.
Epic Aircraft had recently entered into the very light jet (VLJ) space, offering high-end business jets. According to recent statements from the company, it has secure orders for some $63 million worth of its aircraft at two recent shows in Florida and Wisconsin, where the company introduced its VLJs, the single-engine Victory and the twin-engine Elite. The aircraft are powered by engines from Williams International and Pratt & Whitney.
Read more in The Livemint article.
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