(ET)
SBI capital and Deloitte are competing for selection as advisor for the sale of the government’s 53.29 per cent stake in Bharat Petroleum Corp (BPCL). Also, law firms Shardul Amarchand, Luthra & Luthra and J Sagar Asoociates are in the race for the role of legal advisor while proposals from two other firms — Protocol Insurance Surveyors and RBSA Advisors – will be studied for the role of asset valuers.
DIPAM said in a notification that both SBI Caps and Deloitte will make 15 minutes’ presentations on Thursday post which financial bids will be opened and an advisor will be appointed for the process of BPCL disinvestment and the sale of BPCL’s 61.65 per cent stake in Numaligarh refinery (NRL) to another oil and gas PSU. “The advisor will undertake tasks relating to all aspects of the proposed strategic disinvestment culminating into successful completion of the transaction during the current financial i.e. 2019-20 and accordingly draw detailed realistic timeline for completing various activities involved in the transaction. In case of slippage in the timeline, government may change the appointed Advisor,” DIPAM said.
