*Representational Picture Courtesy airindia.in
Investigation revealed that privatisation of Air India may take place in the new year 20201
As of now,Tata Group and US-based fund Interups Inc were among many entities that have put in preliminary bids last week for buying loss-making carrier Air India.
Alongside,over 200 Air India employees have also submitted an expression of interest (EoI) for the carrier in partnership with Interrupts at the close of the deadline on December 14.
An Inquiry gathered by www.jharkhandstatenews.com indicates that the Transaction Advisor will inform the qualified bidders by January 6, 2021 following which the bidders will be given access to virtual data room (VDR) of Air India.
The share purchase pact is going to be shared with the bidders.Then financial bids would be invited,it is learnt.
The transaction will be concluded only in next fiscal as we are expecting bidders to have a lot of queries once they get access to VDR and before they put in their financial bids, the official told PTI.
The government is selling its entire 100 per cent stake in Air India that has been in losses ever since its 2007 merger with domestic operator Indian Airlines.