The government has approved outright sale of state-owned Steel Authority of India Limited’s (SAILs) three special steel units, including the Salem and Alloy Steel plants.
SAIL has now sought advisors, including legal and merchant bankers, to carry out the strategic sale along with transfer of management control in the three steel plants — Alloy Steels Plant, Salem Steel Plant and Visvesvaraya Iron and Steel Plant.
"The Government of India has ‘in-principle’ decided for strategic disinvestment of ASP, SSP and VISP of Steel Authority of India Ltd with transfer of management control,” SAIL said in the request for proposal (RFP) for appointing advisors.
The PSU is scouting for transaction advisors from professional consulting firms, investment bankers and financial institutions, to provide advisory services and manage the disinvestment process.
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