Free Press Journal

Government seeks advisers for Air India disinvestment

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New Delhi : Taking forward the process for Air India divestment, the government Thursday invited applications from investment bankers, law firms and other entities to act as advisers for strategic stake sale of the flag carrier. The government has decided on strategic disinvestment of the loss-making Air India, which is staying afloat on taxpayers’ funds, and a ministerial panel is working on the modalities.

 Applications have been sought for engaging up to two advisers and a legal adviser for the “strategic disinvestment of Air India and its subsidiaries/ joint venture”, according to two similarly-worded public notices issued by the Finance Ministry. “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 said.