The Hindu Business Line : United Breweries open offer for Deccan Aviation

Mumbai June 20 United Breweries (Holdings) Ltd is making an open offer for 20 per cent equity in Deccan Aviation Ltd, at a price of Rs 155 per share, the same price at which it bought 26 per cent stake in the company last month.

Deccan Aviation shares closed at Rs 133.45 on Wednesday, as against the previous day's close of Rs 132.95.

The offer will open on July 25 and close on August 13 and the managers for the offer will be Edelweiss Capital Ltd.

The Kingfisher-Air Deccan group currently has a fleet of 71 aircraft including 41 Airbus aircraft and 30 ATR aircraft. The group claims to cover all segments of air travel offering maximum number of 537 daily flights connecting 69 cities.

Between the two airlines, they have a combined order of 88 Airbus and 50 ATR aircraft to be delivered by 2011.

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