BUDGET 2000
SPECIALS
INTERVIEWS
COMMENTARY
GOVT&ECONOMY
Y2K: BIZ FEATURES
INDIA & THE WTO
CREDIT POLICY
BIZ IN THE USA
CARS & MOBIKES
MANAGEMENT
CASE STUDY
BIZ-QUIZ
USEFUL INFO
ARCHIVES
NEWSLINKS
SEARCH REDIFF

Search Rediff

IA divestment mandate for ANZ group

India has appointed an ANZ-led consortium as the global adviser for the divestment of state-owned Indian Airlines, the local unit of ANZ Grindlays Bank said on Thursday.

The consortium includes Industrial Development Bank of India and Speedwing, the airline consultancy arm of British Airways, Grindlays said in a statement.

Indian Airlines is the country's largest domestic air carrier.

India has decided to divest 51 per cent in the domestic air carrier, of which 26 per cent will be sold to a strategic or joint venture partner and 25 per cent would be offered to employees, financial institutions and the public.

ANZ said it had earlier advised the Indian government on the divestment of its 74 per cent holding in bread maker Modern Foods Industries (India) Limited to consumer products firm Hindustan Lever Limited, a subsidiary of Anglo-Dutch conglomerate Unilever plc.

Back to top

(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report