SEBI rules Etihad has no “effective control” over Jet Airways, exempted from making open offer; Janak Dwarkadas, Gagrats for Jet while Ravi Kadam, Amarchand for Etihad

SEBI rules Etihad has no “effective control” over Jet Airways, exempted from making open offer; Janak Dwarkadas, Gagrats for Jet while Ravi Kadam, Amarchand for Etihad

The market regulator, Securities and Exchange Board of India (SEBI) yesterday ruled that Etihad wouldn’t get effective control of Jet Airways with respect to the 24% stake purchase in Jet Airways and exempted Etihad from making an open offer to public shareholders of Jet Airways, clearing the last hurdle on the deal.

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