UBS Securities, ICICI Ventures and ICICI Bank today sold a part of their shareholding in Deccan Aviation, owner of the low-cost Air Deccan airline.In a series of bulk deals, Money Matters bought all the shares sold by the three entities for nearly Rs 102 crore.
While UBS Securities sold 1.79 per cent stake, ICICI Ventures offloaded 2.31 per cent stake. ICICI Ventures holds shares in Air Deccan through Western India Trustees and Executor Company. ICICI Bank sold 0.91 per cent stake.Prior to the sell-of ICICI Ventures held 6.78 per cent stake, UBS had 2.53 per cent and ICICI Bank 1.05 per cent.
ICICI Bank and UBS sold the Deccan shares at Rs 150 each, and ICICI Ventures sold the shares at Rs 149.96 each.ICICI got Rs 46.9 crore from the sale, UBS got Rs 36.5 crore and ICICI Bank Rs 18.6 crore.
The sale has happened at a time when Vijay Mallya’s UB Group is scaling up its shareholding in Deccan Aviation through a 20 per cent open offer. Priced at Rs 155 a share, the offer was triggered with the Kingfisher group acquiring a 26 per cent stake in the airline. The offer will close on October 1.
No comments:
Post a Comment