India’s Jindal Power will not bid to take over airline Go First  | Reuters News Agency


Business & Finance

Reuters exclusively reported that India’s Jindal Power Ltd, the only company whose expression of interest to take over Go First was accepted by creditors, has decided to not follow through with a bid, three people familiar with the plans said, pushing the insolvent airline closer to liquidation. The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline’s financial statements. 

Market Impact

Go First filed for voluntary insolvency in May and owes a total of 65.21 billion rupees ($785.6 million) to its creditors. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: India

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story



Source link