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ADAG vies for 33% stake in Gopinath’s cargo airline

Anil Dhirubhai Ambani Group (ADAG) is once again warming up to aviation entrepreneur Capt GR Gopinath after losing out on acquiring Air Deccan last year. ADAG’s private equity arm, Reliance Equity Advisors, is holding talks to invest over $50 million (Rs 250 crore) in Gopinath’s new venture — Deccan Cargo — in return for a significant minority stake in the start-up airline, sources said. Gopinath’s new dream of linking India’s distant hinterlands to the mainstream markets is expected to take off in January next year with fleet of Airbus aircrafts. Others in the fray to pick up a slice of Deccan Cargo include US venture capital major New Enterprise Associates (NEA) and Intel Capital, which is seen working out a consortium play to make one of its rare investments outside technology space. […]