Global advisors appointed for 16 PSU sell-off

	Financial Daily from THE HINDU group of publications Tuesday, July 11, 2000

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Global advisors appointed for 16 PSU sell-off

Our Bureau

NEW DELHI, July 10

THE Department of Disinvestment today formally released a list of global advisors appointed for disinvestment of 16 public sector undertakings, including Air India and Indian Airlines and Indian Petrochemicals Corporation Ltd (IPCL).

While JM Morgan Stanley has been nominated for the divestment in AI; IDBI, ANZ Grindlays Bank and Speedwing Consortium have bagged the IA mandate. Warburg Dillon Read has been appointed as advisor for disinvestment in IPCL.

For Indian Tourism Development Corporation (ITDC), the Government has appointed Lazard India, while the divestment in Madras Fertilisers Ltd would be handled by ICICI Securities and Bank of America consortium.

Among the others, BALCO would be handled by Jardine Fleming India Securities Ltd; RBL Ltd has gone to S.B. Billimoria & Co; Bharat Leather Corporation and NEPA Ltd (SBI Capital Markets); Instrumentation Kota Ltd (IDBI); Hindustan Cables Ltd (I-Sec); HTL (KPMG India Pvt Ltd); Scooters India Ltd (PricewaterhouseCoopers); Hindustan Copper Ltd (IDBI-Sumitomo Bank Consortium); National Fertiliser Ltd (Rabo Finance Private Ltd) and Jessop and Co (A.F. Ferguson).