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India invites bids to appoint banks, lawyers for Air India sale
September 14, 2017 / 3:34 AM / in a month

India invites bids to appoint banks, lawyers for Air India sale

NEW DELHI (Reuters) - India has invited bids to appoint two financial advisors and one legal advisor for the privatization of national carrier Air India and its subsidiaries, the Ministry of Finance said in a newspaper advert on Thursday.

An Air India aircraft takes off from the Sardar Vallabhbhai Patel International Airport in Ahmedabad, India, July 7, 2017. Picture taken July 7, 2017. To match Analysis AIR INDIA-PRIVATISATION/ REUTERS/Amit Dave

The government gave the green light to sell Air India, which has struggled under losses and its debts, in June, and officials have said they want the process to offload all or parts of the airline by early 2018.

Interested investment banks and law firms have until Oct. 12 to pitch for their role in the privatization.

Reporting by Tommy Wilkes; Editing by Nidhi Verma

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