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AI employees union disqualified from privatization bid

A group of 200 employees presented an expression of interest in partnership with a fund based in Seychelles

According to the internal post, Air India employees union has been disqualified from the bidding process for privatization of the national carrier.

Transaction advisors Ernst and Young on Sunday informed the group of employees about the decision, writing, “The EOI (expression of interest) and supporting documents submitted by you have been duly evaluated and do not meet the eligibility requirements Has been found for Responsible for the preliminary information memorandum and disqualification issued in connection with the strategic disinvestment of Air India Limited (AI). “

A group of 200 Air India employees presented an expression of interest in a partnership with a fund based in the Seychelles.

The government in January last issued a preliminary notice memorandum for the sale of a 100% stake in Air India and later that year revised a major bid criteria, giving bidders the flexibility to on the loans taken by them. used to do. Subsequently, several expressions of interest were made for Air India.

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