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Centre may intimate qualified bidders for Air India by Jan 30
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SME Times News Bureau | 16 Jan, 2021
The Centre is likely to intimate the qualified bidders for national
carrier Air India by the end of the month, as the evaluation of the
expressions of interest (EoI) is still underway, official sources said.
The government was to intimate the bidders by January 5.
People
in the know of the developments said that the transaction advisors are
in touch with the interested bidders regarding several queries and the
qualified bidders will be intimated only after the government is
satisfied with the responses from the bidders.
The second phase
of the strategic disinvestment of Air India was scheduled to start on
January 5 with the announcement of the names of the qualified bidders.
Tata
Sons and the New York-based Interups Inc backed by strategic NRI
investors from the US and Europe are said to be the interested bidders
for the national carrier.
DIPAM Secretary Tuhin Kanta Pandey had
earlier said that the government has received multiple expressions of
interest for the strategic disinvestment of Air India.
The
process has been divided into two stages. In stage I, expressions of
interest have been submitted by the interested bidders and they will be
shortlisted based on the eligibility criteria and other terms mentioned
in the Preliminary Information Memorandum (PIM).
In stage II, the
shortlisted interested bidders will be provided with a request for
proposal (RFP) and thereafter there will be a transparent bidding
process.
In view of the prevailing situation arising out of the
Covid-19 pandemic, the last date for submission of EOIs was extended up
to December 14, 2020.
The privatisation of the flag-bearer has already faced several hurdles with initial lack of interest for the airline.
Last
month, the Ministry of Civil Aviation had said that in view of the
post-Covid situation and the severe impact on the aviation sector, the
government has considered various options related to disinvestment,
including bidding parameters in the PIM, while meetings have been held
regularly of the inter-ministerial group and the core group of
secretaries on disinvestment to review the disinvestment process.
The interested bidders were asked to indicate their interest on the enterprise value of Air India.
The
PIM for inviting EoI issued on January 27, 2020 had offered 100 per
cent sale of equity share capital of Air India Ltd (AIL), sale of AIL's
100 per cent shareholding in the Air India Express Ltd (AIXL) and sale
of 50 per cent shareholding in Air India Airport Services Private Ltd
(AISATS).
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