Tuesday, December 04, 2018

Substantial interest for Pawan Hans sale: Disinvestment Secy

Mumbai: A senior government official Monday said the Centre has received "substantial" interest for Pawan Hans stake sale and plans for Air India disinvestment also continues.

The government owns 51 per cent in Pawan Hans, which has a fleet of 46 choppers. The remaining 49 per cent is with state-run ONGC. If the sale goes through, government will exit the chopper-maker.

The disinvestment process is on, as ONGC refused to buy out the government's stake when it was proposed last year.
"Pawan Hans (PHL) for which an RFP (request for proposal) has been invited, has got substantial competitive interest," department of investment and public asset management (Dipam) secretary Atanu Chakraborty told reporters on the sidelines of an NSE event.
SBI Capital is advising the government on the bidding process. In April, the government had issued the information memorandum for the 51 per cent strategic stake sale in Pawan Hans and had sought expressions of interest (EoI) from interested bidders by June 18.
03/12/18 Economic Times