Etihad wins CCI nod for $325 mln Jet Air stake buy

NEW DELHI Tue Nov 12, 2013 8:33pm IST

A Jet Airways passenger aircraft takes off from the airport in Ahmedabad August 12, 2013. REUTERS/Amit Dave/Files

A Jet Airways passenger aircraft takes off from the airport in Ahmedabad August 12, 2013.

Credit: Reuters/Amit Dave/Files

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NEW DELHI (Reuters) - The Competition Commission of India (CCI) has approved Etihad's $325 million deal to buy a 24 percent stake in Jet Airways(JET.NS), the regulator said on its website on Tuesday.

Jet said last month it expected to complete the transaction this quarter. It already has the cabinet's approval.

"...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same...," the CCI said on its website.

(Reporting by Devidutta Tripathy; Editing by Louise Ireland)

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