7 firms compete to advice Air India disinvestment
Posted on: 27/Oct/2017 2:33:08 PM
Nearly seven firms including KPMG, BNP Paribas, and Rothschild India Pvt Ltd are competing to recommend the government for Air India strategic sale and its subsidiaries.
The rest of the companies that have come forward for being the transaction advisor for sale of shares include ICICI Securities, Edelweiss, Grant Thornton, states a latest update posted on the Department of Investment and Public Asset Management (DIPAM).
In June month this year, the cabinet had decided about strategic disinvestment of Air India that is loss making. The company is staying afloat with the funds of taxpayers, and the ministerial panels is working out the different modalities.
The legal advisors in this share sale will be 7 law firms including that of Cyril Amarchand Mangaldas, Hammurabi and Solomon Partners, etc.
Apart from this, the other applicants are Shardul Amarchand Mangaldas, Crawford Bayley and Co, Luthra and Luthra, ALMT Legal and Trilegal.
Tomorrow, all these companies shall be making presentation before DIPAM.
A call for applications for up to 2 advisors, a legal advisor to get involved in strategic disinvestment of Air India and all its subsidiaries, and joint ventures was announced in September.
