vijay-mallya-flies-high-with-deccan-aviation-deal

Vijay Mallya flies high with Deccan Aviation deal

Mallya's United Breweries Group pays $136 million for 26% of Deccan Aviation, in the second private sector aviation deal in India in the last two months.
The consolidation among private airlines in India continues as United Breweries Group announces plans to pay Rs5.5 billion $136 million for a 26% stake in Deccan Aviation. United Breweries UB already operates Kingfisher Airlines in the country.

At its board meeting yesterday, Deccan Aviation approved a preferential allotment to the UB group at a price of Rs165 per share. The proposed pricing is in accordance with SEBI guidelines on preferential allotments. This is the second private sector aviation deal in India following the revival of the on-again off-again takeover by Jet Airways of Air Sahara in April.

In the latest deal, the UB group will pay Rs1.5 billion in advance to Deccan, with the balance...
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