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Last Modified: Wed, Sep 12 2018. 11 20 PM IST

Pawan Hans stake sale: Govt extends deadline for initial bids

n August, the government said that along with government’s 51% stake, the bidders would have the option to buy ONGC’s 49% shareholding in the company

The previous deadline for Expression of Interest (EoI) was to end Wednesday.
PTI

New Delhi: The government has extended the deadline to 19 September for submitting initial bids for 51% stake sale in helicopter services provider Pawan Hans Ltd, according to a communication.

The previous deadline for Expression of Interest (EoI) was to end Wednesday.

In August, the government said that along with government’s 51% stake, the bidders would have the option to buy ONGC’s 49% shareholding in the company.

“The last date for submission of EoI for strategic disinvestment of PHL... has been extended up to 19 September, 2018,” as per a notice posted on the website of the Civil Aviation Ministry.

Timelines for all other subsequent activities would change accordingly, it added. On 13 April, the government issued the information memorandum for the 51% stake sale in Pawan Hans and had sought EoI from interested bidders by 18 June.

About half a dozen bidders are believed to have submitted bids. Later, fresh bids were invited after ONGC board in July decided to combine its 49% stake in the offer for sale by the government.

Topics: Pawan HansPawan Hans stake salePawan Hans LtddisinvestmentONGC

First Published: Wed, Sep 12 2018. 11 20 PM IST

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