EY, Rothschild and Cyril Amarchand to advise on Air India privatisation

In a highly aggressive bidding, winners quoted lower than standard rates

EY, the consultancy entity, and investment bankers Rothschild have been chosen as transaction advisors for the proposed disinvestment of state-owned airline Air India. Legal firm Cyril Amarchand Mangaldas will act be legal advisor for the process.

KPMG, Shardul Amarchand Mangaldas and Luthra & Luthra made it to the final round in technical bids. They were then edged out by the winners in financial bidding; the advisory fees quoted by the latter were lower. 

According to sources, EY and Rothschild, according to their quote, will get 0.2 per cent of the total transaction value. “It is too low for such a complicated deal,