(Photo: Reuters)(Photo: Reuters)SpiceJet, the low-cost carrier, may get US-based Indigo Partners as the anchor investor in the consortium led by former co-promoter Ajay Singh, in his bid to revive the ailing airline, sources told The Economic Times.
A source also told the newspaper that the involvement of Indigo Partners was key to the deal as it specialises in operating global airlines and understands the operations.
The sources also told ET that the consortium, with TPG Capital and JPMorgan Infrastructure Fund as the other two investors, may invest Rs 1,400 crore in SpiceJet.
Another source said that the other investors would go further with the deal if the US-based private equity firm entered it.
"(The) deal will take a few weeks as the holiday season in the US has slowed down the due diligence process," ET quoted a source as saying.
One of the sources told ET that while Singh's consortium of funds wants to hold 76 per cent stake in SpiceJet as part of the deal, the funds want to buy the entire stake of owner Kalanithi Maran's family.
Additionally, the consortium wants to invest a part of the total funds in the airline to revive it.
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The investors were not immediately available for comment.
The former co-promoter's objective is to revive SpiceJet and the model will be an exact clone of the last time is what sources close to developments told Mail Today earlier.
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