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Blog Keywords: Bangalore
IIM Bangalore
IIMB
Cultural Events
Management Education
Entrepreneurship
B-Schools
India

Tuesday, February 15, 2005

Posted 4:02 PM by Anurag
Interesting Corporate Buy-outs

# East India Company
Didja know that the British part of the East India Company is owned by an Indian today? Apparently, Subhash Chandra, chairman of the ZEE group chairman bought this company in mid-90s! I would've expected more media noise on this one!

# Air Asia
Just 3 days before Sep 11 in 2001, Tony Fernandes (of TuneAir), a Goa-born Indian/Malaysian alongwith three other Malaysians and an Irishman formerly with Ryanair bought Air Asia Berhad from heavy industries firm DRB-Hicom in December, after the nation's second airline had accumulated $37 million in debt since its launch in 1996. Guess how much Tony paid for Air Asia. Believe me, if you don't know the answer, no way you can guess. Here's why: Tony paid exactly Rm1 (Yes! US$0.26!) to acquire the whole airline! Last September (2004), Air Asia went public and raised $250m (USD). Get that!!

And that's not all. Tony went ahead, and in 2004, bought 49% stake in another airlines, this time an Indonesian one, called AWAIR (declared bankrupt in 2002) . Price? $2 (USD)! With such deals, Air Asia has pioneered the cross-border JV model in airlines industry.

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