The government has restarted the process of divesting its entire 51 per cent stake and management control in Pawan Hans Ltd (PHL), the largest helicopter operator in the country. The global invitation for Expression of Interest for the proposed strategic divestment of 51 per cent stake in PHL was issued on Thursday.
The successful bidder as identified by the government will also have the option to buy Oil and Natural Gas Corporation Ltd’s stake of 49 per cent in PHL. Details of this will be provided at the Request for Proposal stage, the EOI states.
The shortlisted bidders will be required to submit their financial bids in the form of the price per share for acquiring the government’s 51 per cent equity stake in PHL along with important supporting documents including bid letter, bank guarantee and a declaration of security clearance, the EOI states.
