New Delhi, Oct 13 (PTI) The government today invited bidsfrom private companies, including foreign ones, to buy out itsentire 51 per cent stake along with management control inhelicopter service operator Pawan Hans Ltd.
The Miniratna PSU is under the administrative control ofthe civil aviation ministry and the remaining 49 per centstake is held by oil behemoth ONGC.
In a "global invitation for expression of interest",the government asked private players to submit the bids byDecember 8.
"The government proposes to disinvest its entire equityshareholding of 51 per cent in Pawan Hans Ltd by way ofstrategic disinvestment to investors, along with transfer Ofmanagement control," it said while inviting bids.
The Department of Investment and Public Asset Management(DIPAM) has already lined up a host of PSUs for strategicdisinvestment.
While expression of interest (EoI) from bidders wassought for four PSUs yesterday, the same for Pawan Hans wasissued today.
Of the lot in question, the government plans to sell itsentire stake in Hospital Service Consultancy Corporation(HSCC), Engineering Projects (India) Ltd (EPI) and NationalProjects Construction Corporation (NPCC) to a similarly-placedCPSE.
Besides, Bridge and Roof Co will be sold to a privateplayer.
The government plans to raise Rs 15,000 crore viastrategic sale in the current fiscal out of its totaldisinvestment target of Rs 72,509 crore.
Besides, takeover of HPCL by ONGC in an about Rs 30,000-crore deal is in progress. PTI JDARD.
This is unedited, unformatted feed from the Press Trust of India wire.