Temasek not to invest in SpiceJet
By agencies   |   Friday, 11 November 2005, 20:30 IST
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SINGAPORE: Singapore governmentÂ’s overseas investment arm Temasek Holdings Pte Ltd., has decided not to invest in SpiceJet Ltd., an Indian low-fare carrier that started flying in May, because of a disagreement on terms. "We have decided not to proceed with the investment in SpiceJet as both parties could not come to an agreement on certain terms," Temasek's spokeswoman said. SpiceJet said on September 8, that it plans to sell $20 million of shares to overseas investors, including Singapore's Temasek Holdings, to fund plane purchases. This is perhaps the first time Temasek is backtracking from investing in a company after the announcement. Temasek has been an active investor in India over the last past year and half.

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