PwC, EY, 3 Others In Race For HPCL Transaction Adviser

PwC, EY, 3 Others In Race For HPCL Transaction Adviser

PwC, JM Financial and ICICI Securities are among the five consultants vying to become transaction adviser to the government’s over Rs. 33,000 crore stake sale in Hindustan Petroleum Corp Ltd HPCL to ONGC. EY and Rothschild (India) Pvt Ltd are the other two who have submitted expression of interest (EoI) to the Department of Investment and Public Asset Management’s (DIPAM) invitation to professional consulting firms and investment/merchant bankers for managing the disinvestment process, official sources said.

DIPAM is looking to appoint one adviser for the strategic sale as also a law firm with experience and expertise in mergers and acquisitions or takeovers or strategic disinvestment. Cyril Amarchand Mangaldas, Crawford Bayley & Co, Luthra & Luthra, Suman Khaitan & Company and Hammurabi & Solomon Partners are in race for legal consultant. Sources said DIPAM has invited the bidders to make a presentation on Friday after which it will open price bids. Read More…

Credit By : Khabar India

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