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Etihad Airways PJSC Wins India Cabinet Approval For $330 Million Jet Airways India Ltd Stake Buy-Reuters

Thursday, 3 Oct 2013 11:11am EDT 

Reuters reported that India's cabinet approved on October 03, 2013 a $330 million deal by Abu Dhabi's Etihad Airways PJSC to buy a stake in Jet Airways India Ltd. Etihad had agreed in April to buy a 24% stake in Jet in the first such deal since the Indian government relaxed rules in September 2012 to allow foreign airlines to own up to 49% of Indian carriers. The deal had been delayed due to scrutiny by Indian regulators and also due to opposition from some politicians, before the foreign investment regulator cleared it with conditions in late July. 

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