Texas Pacific drops plan to invest $30 mn in SpiceJet

The US-based private equity fund Texas Pacific Group, which had recently decided to invest $30 million in low-cost carrier SpiceJet, has decided to pull out of the deal.

Though sources in investment banking circles cited differences over valuation, senior SpiceJet executives told ET that the US-based fund has expressed its inability to participate in this round of fund-raising by the low-cost carrier as its top management was busy with an ongoing $11 billion deal for buying out Australian airline, Qantas, by a consortium of private equity players. “They have told us that they will re-visit us in the near future,” said Siddhant Sharma, CEO, SpiceJet.

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