Monday, August 07, 2017

Government to float RFP for merchant bankers over Air India disinvestment

Mumbai: The government will soon float a request for proposal (RFP) for selection of transaction advisor, legal advisor as well as asset valuer for the proposed disinvestment of national carrier Air India.
The Cabinet Committee on Economic Affairs (CCEA), the apex body for formulation of government's economic policies, had on June 28 granted its in-principle approval for considering strategic disinvestment of Air India and five of its subsidiaries, which include Air India Express as well as engineering and ground handling units.
"The announcement of RFP for appointment of a transaction advisor, a legal advisor and asset valuer is expected to be made soon for disinvestment of Air India," an airline source said.

Though the government has not yet set any timeline for disinvesting its stake in the loss-making flag carrier, the whole process is expected to be completed in 12 months to 18 months time.

"The announcement of the RFP will set in motion the stake sale process," the source said.
07/08/17 PTI/Economic Times

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