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The Hindu
The Hindu
National
PTI

Congress raises questions over Pawan Hans disinvestment, asks why merger with ONGC not explored

Pawan Hans ONGC Gourav Vallabh Finance Ministry Bharatiya Janata Party

The Congress on Sunday raised questions over the deal to sale Centre's 51% stake in helicopter services provider Pawan Hans Ltd (PHL), asking why the government did not explore merging the firm with ONGC instead of deciding to hand it over to a consortium that is just six-months-old.

The Finance Ministry on Friday said Star9 Mobility Pvt Ltd will buy the government's 51% stake in helicopter services provider Pawan Hans Ltd (PHL), along with the transfer of management control, for ₹211.14 crore.

The reserve price for the strategic sale, which comes after three unsuccessful attempts, was fixed at ₹199.92 crore based on the valuation carried out by the transaction adviser and asset valuer.

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