Air India privatization process is finalizing rapidly. The Department of Investment and Public Asset Management revealed that at least 14 companies are in the process to get the investment advisor and legal advisory role for the entire privatization process. The companies are readying for a presentation on October 27 and the final process of hiring the firm will be decided afterward. The process is important as the huge share of Air India can make and break the reputation of the Government and the decision has been taken to ensure easy facilitation.
As per the report carried out by the Livemint, the companies that would present their cases on Friday are the following.
- BNP Paribas
- Rothschild India Pvt. Ltd
- Grant Thornton
- ICICI Securities Ltd
The law firms that are interested in the legal advisory role are the following.
- Hammurabi and Solomon Partners
- Cyril Amarchand Mangaldas
- Shardul Amarchand Mangaldas
- Crawford Bayley and Co
- Luthra and Luthra
- ALMT Legal
The companies are expected to give the presentation on the plan layout believe the experts. Air India will be made privatized as the Government has decided to sell the stakes in it. The number of companies has shown interest in buying the debt-ridden National carrier. Tata the original owner of the Airlines has shown interest in buying it back, however with some foreign partnership. On the other hand, Inter-Globe aviation that operates Indigo has also expressed the willingness to buy the air carrier.
The government has set up a board to look after the sell and other activities. Air India has huge market share in the international market and has many other stakes in other businesses as well along with the subsidiaries of the company.