Image Source : PTI Phase-II of Air India disinvestment to begin Jan 5
The second part of the strategic disinvestment of Air India will begin on January 5, 2021 with the announcement of the names of the certified bidders. The course of has been divided into two levels. In stage I, expressions of curiosity (EoI) have been submitted by bidders and they are going to be shortlisted primarily based on eligibility standards and different phrases talked about within the Preliminary Information Memorandum (PIM).
In the stage II, shortlisted bidders might be supplied with a request for proposal (RFP) and thereafter there might be a clear bidding course of, stated a presentation by the ministry.
In view of prevailing scenario arising out of Covid-19, final date for submission of EOIs was prolonged upto December 14, 2020.
The date of intimation to certified bidders is January 5, 2021.
The presentation famous that in view of the post-Covid scenario and extreme influence on aviation sector, the federal government has thought of varied choices associated to disinvestment, together with bidding parameters within the PIM and conferences of Inter-Ministerial Group and Core Group of Secretaries on Disinvestment have been held commonly to evaluation the disinvestment course of.
The bidders have been requested to point their curiosity on Enterprise Value of Air India.
The PIM for inviting EoIs issued on January 27, 2020 had provided 100 per cent sale of fairness share capital of Air India Ltd (AIL), sale of AIL’s 100 per cent shareholding within the Air India Express Ltd (AIXL) and sale of fifty per cent shareholding in Air India Airport Services Private Ltd (AISATS).
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