ONGC prefers to sell its entire 49 pc stake in Pawan Hans, says Sinha
The government is in the process of disinvesting its entire 51 percent shareholding in Pawan Hans, Minister of State for Civil Aviation Jayant Sinha said in a written reply.
"ONGC vide its letter dated July 2, 2018, has conveyed that the ONGC board resolved that it would be the preferred option for ONGC to divest its entire 49 percent stake and exit simultaneously along with the Government of India," Sinha said.
According to the minister, the shortlisting process of the interested bidders is underway.
Citing a guidance note on strategic disinvestment issued by the Department of Investment and Public Asset Management (DIPAM), Sinha said that the transaction advisor should strictly maintain the confidentiality of the potential bidders.
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