This acted as a catalyst in the negotiations (giving it a positive start). Power Play – In August 2012, both teams Jet Airways and Etihad Airways met in Abu Dhabhi, where Etihad was based, which gave team Etihad an advantage. Etihad's team included executives from PricewaterhouseCoopers Pvt. Ltd, HSBC Holdings Plc and its auditors KPMG to undertake a due diligence exercise on Jet while Jet Airways engaged only Ernst and Young to conduct its own due diligence on Etihad. This projects Etihad's display of power into the early stages of the negotiation. Analyzing the deal, Jet Airways sought a valuation of $2 billion, while Etihad Airways valued it at just $500 million. Etihad wanted to acquire 49% of Jet Airways for $250 million, but Jet Airways was only willing to part with a 24% stake, this led both teams to stage walkouts at different stages of the negotiation. While the Etihad Airways team withdrew once, Jet Airways representatives withdrew at least three times due to differences