Centre receives multiple expressions of interest for helicopter service provider Pawan Hans

By | February 21, 2021

Centre receives a number of expressions of curiosity for helicopter service supplier Pawan Hans

“The transaction will now move to the second stage (in the two-stage process),” he said in a tweet.“The transaction will now transfer to the second stage (within the two-stage course of),” he mentioned in a tweet.

The federal government has obtained a number of expressions of curiosity (EoI) for the privatisation of helicopter service supplier Pawan Hans, division of funding and public asset administration (DIPAM) secretary Tuhin Kanta Pandey mentioned on Thursday.

“The transaction will now transfer to the second stage (within the two-stage course of),” he mentioned in a tweet.

On December 8, the Centre had invited recent EoI for its 51% stake within the agency, by permitting the potential purchaser to asset strip and alter shareholding after one yr of acquisition of the controlling stake.

Underneath the earlier EoI phrases, asset stripping was allowed after two years whereas change in shareholding was allowed after three years. In line with the recent phrases, the client can now additionally undertake sale and leaseback of helicopters inside one yr of the disinvestment, supplied the cash so raised is utilised for enterprise operations.

The shortlisted bidders will probably be allowed to submit monetary bids within the second stage. State-run oil explorer ONGC, which holds 49% stake in Pawan Hans, has additionally supplied to promote its whole stake to the profitable bidder on nearly the identical phrases as the federal government.

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