Global advisers for PSUs named

By Our Special Correspondent

NEW DELHI, JULY 10. The Government today announced the appointment of global advisers for 16 public sector undertakings including Air India, Indian Airlines and the India Tourism Development Corporation (ITDC). This follows the decision taken last month to allow the Department of Disinvestment to appoint global advisers instead of leaving the authority to the concerned ministries.

The DoD selected JM Morgan Stanley for Air India, ANZ Grindlays and Speedwing Consortium for Indian Airlines and Lazard India for the ITDC. These decisions have speeded up the process of disinvestment in the current financial year and the prospects look brighter than ever before for achieving the target of Rs. 10,000 crores as revenue through this process.

The global adviser for the Indian Petrochemicals Limited (IPCL) is Warburg Dillon Read while ICICI Securities and Bank of America Consortium has been named for the Madras Fertilizers Limited (MFL). An IDBI-Sumitomo Bank Consortium has been selected for Hindustan Copper, Rabo Finance for National Fertilizers, IDBI for Instrumentation Limited and A.F. Ferguson for Jessop and Company.

Among the other global advisers appointed by the DoD are Jardine Fleming for BALCO, S.B. Billimoria for R.B.L. Limited, S.B.I. Capital markets for Bharat Leather Corporation and NEPA Limited, I-Sec for Hindustan Cables, KPMG for Hindustan Teleprinters Limited and PricewaterhouseCoopers (PwC) for Scooters India.

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Section  : National
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