Media baron Kalanithi Maran, the guy who own the Sun TV network has acquired 37.75% in SpiceJet from distressed asset specialist Wilbur Ross and promoter Bhupendra Kansagara. Under India’s takeover code, an investor who acquires 15 percent of a company needs to make an open offer for another 20% at a price which is not less than the average share price of the previous six months or the current market price, whichever one is greater. From Mr. Maran’s move it is quite clear that he want to take up control of the low cost carrier. (NOTE: Maran has been long interested in the aviation sector and he also has clearance from aviation minister Praful Patel). It is thus safe to assume that with so much of his own money in the company he will surely turn SpiceJet profitable. The takeover price has not yet been officially declared.
KALANITHI MARAN
Anurag Stock Engine 
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