Government seeks bids for Pawan Hans by Aug 22

New Delhi: The government has initiated the second step for disinvestment of Pawan Hans Limited (PHL), inviting expression of interest from the prospective bidders to sell its stake in the helicopter PSU. The Centre is planning to exit Pawan Hans by selling its 51 per cent stake along with the transfer of management control. The Expression of Interest (EOI) window is open till August 22. Both the shareholders of PHL — the government and the ONGC will indemnify the contingent liabilities to the extent of over Rs 500 crore for the potential buyers.

The renewed process had in fact gathered momentum with issuance of PIM (preliminary information memorandum) on July 11, 2019. (IANS)

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