Etihad and Jet Airways have signed a right to first refusal (RoFR) as a part of the share-purchase agreement, reports CNBC-TV18, quoting sources. The ROFR is subject to FDI regulations and is also applicable not only to equity but also to assets and international routes.
It looks like the Jet-Etihad deal is finally approaching closure after months of going back and forth. Both Jet and Etihad have finally agreed on several sticky issues of board and management control, and are working on ironing out remaining differences.