WL Ross exits SpiceJet at a premium
Leading US investor Wilbur Ross and his flagship investment group WL Ross & Co. have exited from the 30% stake held since 2008 in Indian budget airline SpiceJet. The exit price was $127 million, yielding a 58% profit after just two years.
The restructuring and turnaround firm originally invested in SpiceJet in July 2008, paying around $80 million for convertible bonds. This still ranks as one of the biggest investments to date in India’s...
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