Govt speeds up Air India disinvestment; seeks financial, legal advisers

The Indian govt Thursday invited bids to appoint 2 financial advisers and one legal adviser for the privatisation of Air India and its subsidiaries. The applications for the bid seek advisers for the "strategic disinvestment of Air India and its subsidiaries/ joint venture," 2 similarly-worded public notices said. Elaborating on the govt's requirement one of the notices listed that it "requires the services of reputed law firms with experience and expertise in mergers and acquisitions/ takeovers/strategic disinvestment/ private equity transaction to act as legal adviser and assist govt in the process". "The govt of India has in-principle decided to consider the disinvestment of the AI Group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control," the notices further said. <br/>