Friday, September 22, 2017

Government invites proposals to appoint asset valuer for Air India

New Delhi: The government has invited proposals to appoint an "Asset Valuer" for national passenger carrier Air India, its subsidiaries and joint ventures (JVs).

According to the Ministry of Civil Aviation, the "asset valuer" will carry out valuation of land and buildings, aircraft including airframes and engines, spare engines, maintenance repair and overhaul facilities, among others.

"The government of India (GoI) has 'in-principle' decided to consider the disinvestment of the AI group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control," a "Request for Proposal" document issued on Thursday by the ministry said.

"For this purpose, Ministry of Civil Aviation on behalf of Government of India, requires the services of reputed asset valuer to carry out the valuation."

In an unrelated development, the Department of Investment and Public Asset Management on September 14, 2017, had invited bids from firms to appoint advisers to guide the government on financial and legal issues associated with the strategic disinvestment.

Earlier, a ministerial group was formed to look into the disinvestment modalities.
The group -- Air India-specific Alternative Mechanism -- headed by Finance Minister Arun Jaitley is mandated to guide the divestment process and to decide on key issues such as treatment of AI's debt and hiving-off of its assets.
22/09/17 IANS/Business Standard