This article was first published 20 years ago

Temasek, SpiceJet deal falls apart

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November 11, 2005 14:25 IST

Temasek Holdings Pte Ltd., the Singapore government's investment company, said it would not invest in SpiceJet Ltd., an Indian low-fare carrier that started flying in May, because of a disagreement on terms.

"We have decided not to proceed with the investment in SpiceJet
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as both parties could not come to an agreement on certain terms,'' Temasek's spokeswoman said.

SpiceJet on September 8 said it had plans to sell $20 million worth shares to overseas investors, including Singapore's Temasek Holdings, to fund plane purchases.
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