Darwin Platform Group, SBI Caps discuss unsolicited bid for Jet Airways

| | Mumbai
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Darwin Platform Group, SBI Caps discuss unsolicited bid for Jet Airways

Thursday, 16 May 2019 | PTI | Mumbai

Officials of Darwin Platform Group of Companies and SBI Caps on Wednesday held discussions on the Group’s unsolicited bid for crisis-hit Jet Airways.

Darwin Platform Group, which has investments across various sectors including oil and gas, hospitality and realty, among others has offered `14,000 crore to acquire the grounded airline, its CEO Rahul Ganpule said.

The Group had participated in expression of interest (EoI) and also submitted its financial bid on May 8, he said.

“They (SBI Caps) had called us. We wanted to understand the liability and assets of Jet Airways,” Ganpule told reporters after the meeting. 

He said the Group had done due diligence before submitting the financial bids but wanted some more details which were not publicly available.

Ganpule said there is limited information available about the airline in Registrar of Companies and other public sources, and has requested SBI Caps to provide more details about the actual liability of the airline.

“The solicited bidders have been given access to the actual information but unsolicited bidders do not have,” Ganpule said adding that access to data will only be given after a decision from consortium of lenders.

He said the `14,000-crore offer made by the Group is to take over the entire liabilities of the grounded airline.   Last week, the State Bank of India-led consortium of lenders to Jet Airways said it has received bids from Etihad Airways and from a few unsolicited parties to acquire stake in the troubled airline.

The bids were examined by the lenders on Monday and they reportedly found Etihad’s bid conditional.

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