Thursday, October 26, 2017

Advisers to pitch for Air India role today

New Delhi: The strategic divestment of national carrier Air India and its subsidiaries has picked up pace with the government asking the shortlisted strategic and legal advisers to present their road map on Friday.

The seven firms jostling to bag the role of strategic adviser for Air India are KPMG, BNP Paribas, EY, Grant Thornton, Edelweiss, ICICI Securities and Rothschild India, the Department of Investment and Public Asset Management (DIPAM) said.

In June, the cabinet had decided on strategic divestment of the loss-making carrier.
Seven law firms, including Hammurabi and Solomon Partners, Cyril Amarchand Mangaldas, are keen to act as legal advisers to the share sale. Besides, Shardul Amarchand Mangaldas, Crawford Bayley and Co, Luthra and Luthra, ALMT Legal and Trilegal have also thrown their hat into the ring.

These firms will also make a presentation before the DIPAM on Friday.

In September, the department had invited applications for engaging up to two advisers and a legal adviser for the strategic divestment of Air India and its subsidiaries and joint venture. The advisers will suggest the modalities and timing of the selloff.
27/10/17 Telegraph

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