Thursday, September 14, 2017

Government speeds up Air India disinvestment; seeks financial, legal advisers

New Delhi: Taking forward the process for Air India disinvestment, the government on Thursday invited bids to appoint two financial advisers and one legal adviser for the privatisation of national carrier Air India and its subsidiaries.
The applications for the bid seek advisers for the "strategic disinvestment of Air India and its subsidiaries/ joint venture," two similarly-worded public notices said.
Elaborating on the government's requirement one of the notices listed that it "requires the services of reputed law firms with experience and expertise in mergers and acquisitions/ takeovers/strategic disinvestment/ private equity transaction to act as legal adviser and assist government in the process".
"The Government of India 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," the notices further said.
The notices for Expression of Interest have been issued by the Department of Investment and Public Asset Management (DIPAM). The applications have to be submitted by October 12.
14/09/17 Times of India