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Air Deccan board to decide on shedding stake to UB
The Deccan Aviation board will take a decision on which promoter should sell stake in case the open offer by UB Holdings fails to mop up the required 20 per cent stake.
The Deccan Aviation board will take a decision on which promoter should sell stake in case the open offer by UB Holdings fails to mop up the required 20 per cent stake.
While UB Holdings is keen to buy 20 per cent more in the company, in addition to the 26 per cent it already owns in Deccan Aviation, there is a possibility that the investors will leave the decision to divest their individual stakes with the company's Chairman, Mr G.R. Gopinath, to make up the numbers.
Analysts said that there is every possibility of UB Holdings being able to pick up an additional 20 per cent stake through the open offer route, but in case it is not able to do so, the decision will be left to Mr Gopinath on whether any more stake should be given and if so, who should be asked to do so. However, none of the investors need to seek either the board's permission or that of Mr Gopinath to divest their stakes.
While UB Holdings is keen to buy 20 per cent more in the company, in addition to the 26 per cent it already owns in Deccan Aviation, there is a possibility that the investors will leave the decision to divest their individual stakes with the company's Chairman, Mr G.R. Gopinath, to make up the numbers. 
