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14 firms pitch to become advisers for Air India privatisation

Posted : 30 October 2017 04:31:34 | By TWO Bureau | Two Bureau

14 firms pitch to become advisers for Air India privatisation

As per a Mint report by Tarun Shukla, as many as 14 firms have expressed interest to act as transaction and legal advisers to the government for the privatisation of Air India Ltd.

KPMG, BNP Paribas, Rothschild India Pvt. Ltd, EY, Grant Thornton, Edelweiss and ICICI Securities Ltd will make their presentations on Friday to the government, Department of Investment and Public Asset Management (Dipam) said on its website on Thursday.

Law firms Hammurabi and Solomon Partners, Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, Crawford Bayley and Co, Luthra and Luthra, ALMT Legal and Trilegal will vie to become the legal advisers to the government for the sale of Air India.

The financial bids submitted by the firms will be opened immediately after the presentations are completed, the Department said in the note.

In mid-September, Dipam had sought expressions of interest for transaction advisers and law firms which were to be submitted by October 12. Subsequently, the government had called interested parties for discussions.

The selected firms will help the government value the assets of the state-run airline. Debt-laden Air India has vast assets including intangibles like airport slots, international flying rights among other things. It also has valuable real estate globally. The airline has about 17% share of traffic on routes linking India to international destinations and 13% of the domestic market. Among those waiting for the details of the sale is the Tata group, which started the airline in 1932 before it was nationalised.

InterGlobe Aviation Ltd, which runs IndiGo, Bird Group, Turkey’s Celebi are among companies that have shown interest in buying some parts of Air India.

Tags : #14, # firms, # advisers, # Air, # India,

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