Thursday, May 31, 2007

Deccan sells 26 pc stake to UB Group


//Bangalore: Deccan Aviation Ltd, the company that runs low-cost carrier Air Deccan, on Thursday announced it has sold 26 per cent in the airline to Vijay Mallya's UB Holdings for Rs 550 crore. UB Holdings has already paid Rs 150 crore and the remaining amount would be paid in the next four weeks, Air Deccan Managing Director G R Gopinath told reporters after the company's board meeting.

The transaction, which values Air Deccan at Rs 155 a share, would be through allotment of non-preferential shares to UB, he said. UB Group runs the premier full-service, true-value carrier Kingfisher Airlines. Gopinath would continue to remain the Executive Chairman of the Board, while Mallya would be the Vice-Chairman. The promoters and investors would have equal number of directors, besides six independent directors.//

This is called Entrepreneurship, being an army person, look into the emerging market, put efforts to create a company, sell your tickets for Rs.1 and get marketed yourself. Then screw up with your Service and quality and finally sell your stake to a company for a handfull money.
Vijay Mallya, 50, was elected as Chairman of United Breweries by shareholders at the young age of 28, following the demise of his father in 1983. UB is growing like anything and Mallaya started building sky scrappers in the hottest place near to MG Road, Bangalore. Kingfisher Airlines has already notched up a marked share of 9% in India and has ordered 30 Airbus A-320 Aircraft, 5 Airbus A-330 Aircraft, 5 Airbus A-350 Aircraft, 5 Airbus A-380 Aircraft and 5 A340-500 Aircraft in addition to 35 ATR 72-500 turboprop Aircraft to cater to its growth and route expansion plans till 2012.
So ultimately a market itself shrinks under an umbrella.
Then, what else? Black money.... God save US

2 comments:

சந்தோஷ் aka Santhosh said...

:))

சந்தோஷ் aka Santhosh said...

//put efforts to create a company, sell your tickets for Rs.1 and get marketed yourself. Then screw up with your Service and quality and finally sell your stake to a company for a handfull money.//
:))

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