Kingfisher Airlines owner bought 50% stake in US aircraft
maker Epic Aircraft for 120 million
New York , Oct. 08, 2007
Vijay Mallya, chairman of United Breweries in India, owner of
Kingfisher Airlines has bought a 50 pct strategic stake in US
aircraft maker Epic Aircraft (Oregon) for 120 mln usd, according
to television channel CNBC TV-18.
Epic Aircraft, a unit of Aircraft Investor Resources LLC,
is a manufacturer of private business jets. These jets are both
single and twin engine crafts capable of carrying six to seven
Vijay Mallya eventually hopes to cash in on these trends, as
they relate to corporate aircraft, in the India market. While
Corporate India lags behind the U.S. there is a very discernable
trend developing towards higher use of corporate jets.
- Prior to his purchase of Epic Aircraft, Mallya personally
acquired a 50% interest in a Dutch-based Formula One team.
- In May 2007, United Breweries Group announced the all-cash
acquisition of scotch whisky maker Whyte & Mackay for 595
From Epic Aircraft’s perspective, Mallya brings very little
to the table from the standpoint of industry-based knowledge.
Mallya’s involvement could pay its largest dividends in
the emerging market of India.
Mallya is very connected in his native country and is considered
to be something of celebrity. This combined with Mallya’s
many connections to the rich and famous in the Middle East could
Epic Aircraft achieve brand recognition in these markets.
Dr. Vijay Mallya, is the face of the $2 billion UB Group. 50
year-old Dr. Mallya took over the reins of the United Breweries
Group in 1983 at the tender age of 28 and has, since then, steered
the UB Group to a multinational conglomerate.
Instrumental in shaping the Kingfisher brand as one of the most
popular beers across the globe, Dr. Mallya has received several
awards both in India and overseas. He was conferred a Doctorate
in Philosophy in Business Administration (honoris causa) by the
University of Southern California and nominated as a Global Leader
for Tomorrow by the Geneva-based World Economic Forum (WEF).
In recognition of Dr. Vijay Mallya's contribution to the development
of Trade and Industry in Karnataka, the Federation of Karnataka
Chambers of Commerce and Industry conferred upon him "Sir
M. Visvesvaraya Memorial Award" for the year 2001.
Dr. Mallya is a Member of Parliament and on the board of several
public Companies in India and abroad.
VIJAY MALLYA has won trophies on the professional car racing
circuits and is a keen Yachtman and aviator. He is involved in
a variety of sport by way of personal participation as well as
promotion of sport and cultural activities by steering varius
sponsorships. Amongest his museum collection of historic rare
automobiles are Jaguars, Ferraris, Alfa Romeos and Mercedes Benz.
He has achieved the following:
- The establishment of the Mallya Hospital in Bangalore, India
with charity ward.
- The establishment of the Mallya-Aditi Intrnational School
in Bangalore, India, with a section for subsidized education.
- Sponsorships of sporting events for the physically handicapped
- Contributions to: The Victoria and Albert Museum, London;
Prince's Youth trust; and the Duke of Endinburgh Awards Scheme.
Mallya now wants to bring a Formula 1 race to India as the Indian
Grand Prix. New Delhi is the target, with a street-race being
the favourite of Mallya, track designer Hermann Tilke,F1 boss
Bernie Ecclestone, and Delhi CM Sheila Dixit. The plan is to have
the first Indian F1 race in 2009-2010