SpiceJet sale is not the best deal: Sun CFO

After accumulating losses of Rs. 2,600 crore, the Sun Group decided to sell SpiceJet to its original promoter Ajay Singh.
In an exclusive interview to BusinessLine, SL Narayanan, CFO of Sun Network Goup, which owns SpiceJet, says that “this is not perhaps the best deal. We were in serious talks with two bluechip investors from the US till about August last year, which would have allowed us to retain control.
“Unfortunately, those discussions had to be suspended for totally extraneous reasons.
“But given our situation, we believe the consequences of not hiving off SpiceJet could have been a lot worse.”
He said it was also a matter of regret that the divestment was taking place at a time when the outlook for the aviation sector was improving.

Source: http://www.thehindubusinessline.com/todays-paper/spicejet-sale-is-not-the-best-deal-sun-cfo/article6800035.ece

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