Wadias-promoted GoAir has been approached by various private equity players for acquisition of a minority stake, while valuing the low-cost private carrier at $400 million (about Rs1,600 crore).Global consulting firm Ernst and Young, on behalf of other players, has approached the company and Wadias have held discussions with them, said a market source.
Private equity investors who have evinced interest in GoAir have valued the airline at $400 million. Sources said the valuation figure has been tabled by investors during a recently held meeting with the Wadias.However, the Wadias have not made any firm decision with regard to the proposal from PE investors.
Earlier, GoAir’s managing director Jeh Wadia had said that the airline has been receiving various equity proposals from PE investors and high networth individuals.
The GoAir management has been considering these proposals, but a decision is yet to be arrived at on these discussions.GoAir is also charting a major expansion plan and has started receiving the deliveries of the $1.2 billion order it had placed with Airbus last year.
Read more in The Live Mint article.
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