 "Pawan Hans Ltd")
After three failed attempts to disinvest, the Centre has finally found a suitor for loss-making Pawan Hans. The government will sell its 51 per cent stake in Pawan Hans to Star9 Mobility Pvt Ltd for Rs 211 crore.
The alternative mechanism, comprising Finance Minister Nirmala Sitharaman, Road Transport and Highways Minister Nitin Gadkari and Civil Aviation Minister Jyotiraditya Scindia, approved the highest bid placed by Star9. The Centre will also transfer management control to Star9.
This is the second successful privatisation in the civil aviation space after the Air India sale. This is also the third instance of privatization post Nilachal Ispat
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