Thursday, December 09, 2021

Sky One in race for Pawan Hans stake

UAE's Sky One FZE is among the bidders in the race to buy the government's stake in helicopter services company Pawan Hans, according to people aware of the matter. Pawan Hans was put up for sale in December last year.

The Sharjah-based company has submitted an expression of interest (EoI) for the helicopter services firm and is planning a bid, the people said. There could be other bidders competing to acquire the company, but ET has not been able to ascertain their names.

"Multiple EoIs have been received for privatisation of Pawan Hans Ltd. The transaction will now move to the second stage," Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM) had tweeted earlier this year.

The sale process, which has faced delays on account of the Covid-19 pandemic that adversely impacted the aviation sector, has picked up momentum again over the past two weeks, according to sources. The government may receive financial bids for Pawan Hans before the end of the fiscal year, the sources added.

09/12/21 Mohit Bhalla/Economic Times

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