India: Tata Group starts due diligence for controlling stake in Jet Airways

Photo: Mint

Tata Group is conducting due diligence of Jet Airways (India) Ltd as the nation’s largest conglomerate explores the purchase of a controlling stake in the cash-strapped airline, two people directly aware of the development said. Saurabh Agarwal, chief financial officer of Tata Sons Ltd, is leading the discussions while Jet Airways is represented by its chairman Naresh Goyal, the people cited above said, asking not to be named as the talks are private.

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