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Last Updated : Sep 12, 2018 10:57 PM IST | Source: PTI

Pawan Hans stake sale: Centre extends deadline for initial bids

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

 
 
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The government has extended the deadline to September 19 for submitting initial bids for 51 percent stake sale in helicopter services provider Pawan Hans, 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 percent stake, the bidders would have the option to buy ONGC's 49 percent shareholding in the company.

"The last date for submission of EoI for strategic disinvestment of PHL... has been extended up to September 19, 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 April 13, the government issued the information memorandum for the 51 percent stake sale in Pawan Hans and had sought EoI from interested bidders by June 18. About half a dozen bidders are believed to have submitted bids.
First Published on Sep 12, 2018 10:50 pm
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