It is not clear whether the fund would be looking at a possible buyout of the promoters' stake or fresh infusion of equity. Wilbur Ross does not have any investment in aviation till now. The fund will be looking at a bailout for the airline as SpiceJet is seeking to raise funds to stay afloat and also to fund the aircraft acquisition for its new Boeing fleet scheduled for deliveries over the next five months.
SpiceJet on Tuesday said the private equity firm led by billionaire Wilbur Ross will invest $80 million (about Rs 345 crore) in the low cost airline.
The development follows the acquisition of 37.5 per cent stake in the air-carrier by South-India based media baron, Kalanithi Maran.
He now owns textile and auto parts plants worldwide
The buzz refuses to die down even though other PE players, investment bankers and analysts say such an alliance is highly unlikely. Wilbur Ross, meanwhile, is understood to have completed the due diligence of the scam-tainted IT company. When contacted, a company official declined comment.
US billionaire investor Wilbur Ross has made his debut in India by buying out the troubled textile maker OCM for $37 million in an all cash deal.
Delhi-based low-cost carrier SpiceJet is looking at restructuring its core leadership team as part of US investor Wilbur Ross's strategy of turning around the company.
Low-cost carrier SpiceJet will receive about $65 million within a week as the second tranche of investment by US private equity firm WL Ross and Co and by Goldman Sachs.
In the absence of a chief executive officer, Delhi-based low-cost carrier SpiceJet has decided to set up a three-member management committee to take all company decisions, especially in the light of the recently-signed agreement with US-based investor Wilbur Ross.
Adrian McKeon, the chief executive of Cobra Beer has quit amid speculation that the company's UK business may be taken over by Milson Coors, the American brewer of Carling lager and Worthington ale, with its Indian unit being sold to US investor Wilbur Ross, says a report.
Global investment banking and securities firm Goldman Sachs has expressed interest in acquiring equity in Delhi-based SpiceJet even as top sources said talks for a merger with Kingfisher Airlines are on track.
Media magnate Kalanithi Maran is close to buying about 37 per cent equity in low cost carrier Spicejet at an estimated Rs 45 a share that would cost him about Rs 700 crore (Rs 7 billion).
Taking up the case of Indian IT companies and professionals, Jaitley told Ross about the contribution of highly-skilled Indians in the economic development of the United States and India and stressed that they should continue to do so, which is in the best interest of the two countries, officials said.
India Inc had cheered Donald Trump's decision to scrap TPP, but now there is a growing sense that it won't really lead to positive growth in trade with the US. Subhayan Chakraborty reports.
Real consumer spending grew four per cent at an annual rate in the third quarter, substantially up from the 2.6 per cent pace during the preceding four quarters
The order would ensure that the US fully collects all duties imposed on foreign importers that "cheat".
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
India's second largest budget carrier SpiceJet, which reported a record Rs 1,003 crore (Rs 10.03 billion) net loss last fiscal, may soon receive the much-needed capital infusion as talks with an overseas investor have reached "very advanced stages".
The other top officials who will accompany the US president are Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, National Security Advisor Robert O'Brien and Energy Secretary Dan Broulliette, the sources said.
There are rumours that Ajay Singh who previously headed SpiceJet may get an investor to bail out the airline of dire consequences.
The Trump administration has a "very positive view" of the Indo-US relationship and a lot of interest in taking the ties forward, Foreign Secretary S Jaishankar said on Saturday after his wide-ranging talks with senior Cabinet members and top officials in Washington.
Reacting to Trump's latest move, China has vowed to immediately retaliate.
The commerce department has said that earnings through the new tax will equal the losses faced by Indian industry after the US tariffs on steel and aluminium.
The United States, the United Kingdom, the European Union and NATO have expressed concern on the new law and warned of retaliatory measures.
India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
Though the US has got together a number of vetted and potential Indian business partners, most of these companies say they haven't had much luck in stitching up deals to tap into India as an export market for their goods.
The Department of Commerce alleged that Huawei was engaged in activities that are contrary to US national security or foreign policy interest.
The leaked list contains the name of Union minister Jayant Sinha, who responded by saying that the transactions were not done for any 'personal purpose'.
Last year, Trump broke with decades of precedent by not hosting the annual Iftar dinne.
'Today, I am taking new actions to restrict Iran's nuclear, ballistic missile, and conventional weapons pursuits. My Administration will never allow Iran to have a nuclear weapon, nor will we allow Iran to endanger the rest of the world with a fresh supply of ballistic missiles and conventional arms,' Trump said in a statement.
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
There could be rejig at top level at SpiceJet.
The US president-elect met Silicon Valley's most powerful executives -- CEO of Microsoft Satya Nadella, Jeff Bezos of Amazon, Tim Cook of Apple, Elon Musk from Tesla, Larry Page and Eric Schmidt of Alphabet -- parent company of Google among others.
The first phase of the trade deal includes IP protection and enforcement, ending forced technology transfer, dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.
Nasdaq-listed Cognizant Technology Solutions, which did not complete the due diligence process for Satyam Computer Services, is understood to be back in the race to acquire the troubled software company.
Sun TV promoter Kalanithi Maran, through his advisors, is talking to hedge fund Wilbur L Ross to buy its entire 30 per cent stake in low-cost carrier SpiceJet Ltd.
This was the first dinner hosted for a foreign dignitary at the White House under the Trump administration.
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