The government has named ABN Amro-Rothschild-Enam combine as advisers and J P Morgan-ICICI as co-book runner for offloading 30 per cent stake in aluminium major Nalco for the American Depository Receipt (ADR) and the public issues in the domestic market.
The government will offload 20 per cent equity through an ADR issue followed by another 10 per cent through a public issue.In the final stage of the three-phase selloff process, the government will offload 29 per cent stake in favour of a strategic partner, bringing down its equity in the company from 87.15 per cent to 26 per cent.
The role of JP Morgan-ICICI will be limited to the ADR issue and domestic offer, ABN Amro-Rothschild-Enam will also advise the government during the strategic sale.
