The government’s disinvestment arm is seeking the appointment of merchant bankers and legal advisers to help with the sale of Air India Ltd.
In a newspaper advertisement on Thursday, the Department of Investment and Public Asset Management (DIPAM), under the finance ministry, sought the appointment of at least one legal adviser and two merchant bankers.
DIPAM said the government will also give away the management control of Air India in the process.
“The Government of India ‘in principle’ has decided to consider the disinvestment of the AI Group as a whole or part thereof through strategic sale with transfer of management control,” DIPAM said, in its advertisement seeking proposals by 12 October. Read More…