EBM News
EBM News

Volcan evinces interest in buying stake in Jet Airways

MUMBAI: Mining baron Anil Agarwal’s investment company, Volcan Investment, on Sunday said that it has shown interest in acquiring stake in defunct carrier Jet Airways.

“Volcan Investment, an investment company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways to understand the business scenario for the company and the industry,” the company said in a statement.

“This EoI is in no way linked to Vedanta,” it added. The last date for submission of expression of interest (EoI) was August 10.

Of the three entities that submitted EoIs, two are financial players and another is Panama-based fund Avantulo Group, PTI had reported on Saturday.

Etihad Airways, which holds 24 per cent stake in Jet Airways, did not submit the bid. The three EoIs will be reviewed by the resolution professional (RP) Ashish Chhawchharia to ascertain their eligibility. Late last month, the RP had floated EoIs for selling stake in the airline that stopped flying mid-April.