Home >Companies >News >Rahul Bhatia's InterGlobe Enterprises bows out of Virgin Australia bid

NEW DELHI: IndiGo promoter Rahul Bhatia-controlled InterGlobe Enterprises Private Limited hasn't made it to the final list of bidders for Virgin Australia Holdings Ltd.

Bain Capital, BGH Capital, US-based private equity fund Indigo Partners and Cyrus Capital Partners were the four potential bidders shortlisted by the administrators of Virgin Australia, the Australian Financial Review reported on Monday.

Binding offers for the airline are due on 12 June.

When contacted, a spokesperson for InterGlobe Enterprises said, "Please see the media coverage in Australia. It's self explanatory."

InterGlobe Enterprises (IGE) Pvt Ltd, which controls the company that operates India’s largest airline, had submitted expressions of interest for bankrupt airline Virgin Australia Holdings Ltd in the first round of a sale process that concluded last week.

Cash-strapped Virgin Australia grounded its operations last month amid the outbreak of covid-19 pandemic.

The airline had last month hired Deloitte to oversee its voluntary administration after the country’s government refused to bail out the debt-ridden carrier.

The administrators of Virgin Australia, Deloitte, on Monday said in a statement that the parties selected were well-funded and had strong aviation credentials. Deloitte, however, didn't name the shortlisted bidders.


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