Contact Your Financial Adviser Money Making MC
15
September 2017
 |
Air India (The Total Investment & Insurance
Solutions)
The
government on Thursday invited bids from firms to appoint advisers to aide in
the divestment of national passenger carrier Air India.
According
to two separate notices on the Department of Investment and Public Asset
Management's website, the proposal for advisers have been invited to guide the
government on financial and legal issues associated with the strategic
disinvestment. The
Total Investment & Insurance Solutions
"The
advisory will be required to undertake tasks related to all aspects of the
strategic disinvestment culminating into successful completion of the
transaction... to advising and assisting the government of India on the
disinvestment modalities and the timing; and recommend the need for
intermediaries required for the process of strategic sale," read one of
the notices.
The
development comes as a ministerial group has been formed to look into the
disinvestment modalities.
The Total Investment & Insurance Solutions
The
group -- Air India-specific Alternative Mechanism -- headed by Finance Minister
Arun Jaitley is mandated to guide the divestment process and to decide on key
issues such as treatment of AI's debt and hiving-off of its assets.
The
airline, under massive debt burden of Rs 50,000 crore, had posted an operating
profit of Rs 105 crore in 2015-16. For the 2016-17 fiscal, the company is
expected to report an improved operating profit margin.The Total Investment & Insurance Solutions
No comments:
Post a Comment