Tuesday, July 25, 2006

Ambit-Accenture to advise on AI-Indian merger

Mumbai: The merger of state carriers Air-India and Indian Airlines got a major fillip with appointment of Ambit Corporate Finance and Accenture as consultants for the deal.
The Air-India Board sub-committee which meet in Delhi today evaluated technical and financial bids of the interested parties and decided to award the contract to the Ambit-Accenture consortium.
The board had on June 27 shortlisted three consortia including Accenture with Ambit Corporate Finance; ICICI Securities in association with Deloitte Touche Dohmatsu, N. M. Rothschild, Centre for Asia Pacific Aviation and M V Kini; and JM Morgan Stanley and AT Kearney with Amarchand Mangaldas for laying out the roadmap for the merger of the two carriers and had asked them to submit their technical and financial bids.
When contacted, officials of both organisations declined to comment on the development.
25/07/06 Indian Express
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