Disinvestment: BPCL, Air India deals to conclude by July-August

Disinvestment: BPCL, Air India deals to conclude by July-August

On November 16, three bidders showed interest for BPCL buyout — Vedanta, Apollo Global Management and Think Gas. The shortlisted bidders for fuel retailer-cum-refiner BPCL and national carrier Air India (AI) are likely to be asked to submit their financial bids in a couple of months, as the government intends to complete the two transactions latest by July-August if not early, an official source told FE. Even though the department of investment and public asset management (Dipam) had set a target to complete the transactions by June-end, the government may have to give shortlisted bidders a little bit of extra time if needed to complete their due diligence of the companies and their assets. On November 16, three bidders showed interest for BPCL buyout — Vedanta, Apollo Global Management and Think Gas. After failing to conclude most of the big ticket deals including BPCL sale in FY21 and pared the target to just Rs 32,000 crore from initial estimate of an ambitious `2.1 lakh crore, the Centre is serious about achieving Rs 1.75-lakh-crore target for FY22.

Read more at 
The Financial Express

Timeline

.......... .......... .......... .......... ..........
  • .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
.......... .......... .......... .......... ..........
  • .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
  • .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........
.......... .......... .......... .......... ..........
  • .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........

In-depth coverage

Read more top Business stories on Crisp