Wilbur Ross sells Spice Jet stake for $158 million
American investor Wilbur Ross made waves some time ago when he bought a significant share of budget airline Spice Jet. Today we have news that Tamil Nadu media mogul of Sun TV Network Ltd., Kalanidhi Maran has bought up Ross’s shares.
Maran got a deal, 16 percent below the market price and now owns a 37.7 percent stake in SpiceJet for 7.39 billion rupees ($158.9 million).
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. He is author of Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market (Hachette Book Group, July 2008).
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