Nod to strategic disinvestment of BEML

It involves 26% of government shareholding with transfer of management control to strategic buyer

GN Bureau | July 21, 2017


#BEML   #disinvestment  
The government has given ‘in-principle’ approval for strategic disinvestment of BEML Ltd to the extent of 26% of government shareholding with transfer of management control to strategic buyer, minister of state for defence Subhash Bhamre informed the  Lok Sabha on Friday.
 
Transaction advisor, legal advisor and asset valuer have been appointed by the government as per the procedure and mechanism laid down for this purpose. 
 
After completion of the process, specific approval of government will be sought again. The amount to be mobilised through the sale of government equities in BEML can be known only after completion of the process, the minister said in a written reply.

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