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Two firms shortlisted for Air-India global advisor

Two major consultancy firms were on Friday shortlisted by the government for global advisor (GA) for privatisation of Air-India, official sources said in New Delhi.

The two firms, whose names were not disclosed, were chosen from a total of four companies which had bid for the post, which entails advising the government on the entire process of divestment and selection of a strategic partner for the national carrier, the sources said.

The four firms are J M Morgan Stanley, Lazard Capital jointly with SBI Caps, Solomon Smith Barney and Sumitomo Bank with Industrial Development Bank of India.

The financial bids of the two shortlisted companies would be opened shortly and a decision will be taken very soon, the sources said.

While three of these firms made their presentations on Thursday before a panel of officials from Department of Divestment, ministries of finance and civil aviation, besides Air-India, the fourth one presented its case on Friday, the sources said, adding that two of these firms were shortlisted on that basis.

The bids for presentation were opened on June 26.

PTI

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