Tender floated for AI-Indian merger consultant | india | Hindustan Times
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Tender floated for AI-Indian merger consultant

The consultant would be tasked to prepare a roadmap for the merger of the two national carriers within 2006-07 without any hiccups.

india Updated: May 10, 2006 18:14 IST

Moving ahead to effect its merger with state-owned domestic carrier Indian, Air India has floated tender inviting applications from investment and merchant bankers, financial institutions and other management firms to appoint a consultant who will prepare the roadmap for the amalgamation.

The decision to appoint a consultant was taken by the Air India Board on May four, in which the new Indian CMD Vishwapati Trivedi was also present as a member.

The consultant would be tasked to prepare a roadmap for the merger of the two national carriers within 2006-07 without any hiccups.

The bidders, who have to apply by May 31, would have to fulfil certain eligibility criteria, including a minimum of 10 years experience of advising on amalgamation, mergers and valuation of enterprises, a global presence including an office in India, a minimum share capital of Rs 50 crore and a turnover of Rs 100 crore, besides experience in handling the valuation of state-owned enterprises.

The parties would be shortlisted on the basis of these and other eligibility criteria and their Expressions of Interest. They would then be called for presentations where the broad terms of reference would be provided to them. They would then be asked to submit financial bids.