UB Group makes open offer for Deccan at Rs 155

Deccan Aviation Ltd says on Wednesday UB Group had made an open offer to buy an additional 20 per cent in the airline.

India's low-cost airline Deccan Aviation Ltd said on Wednesday UB Group had made an open offer to buy an additional 20 per cent in the airline.

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The offer price was fixed at 155 rupees per share and the offer would remain open between July 25 and August 13, it said in a statement.

The company also said the offer was made by Kingfisher Radio Ltd and UB Overseas Ltd, both wholly-owned subsidiaries of United Breweries (Holdings) Ltd.

UB, which runs Kingfisher Airlines, recently bought 26 per cent of Deccan Aviation.

Ahead of the news, Deccan shares ended 0.38 per cent up at 133.45 rupees in the Mumbai market.