PTI cited Mr Partha Chatterjee, the state Industry Minister as saying that the West Bengal government would appoint an advisor in 10 days for sale of its shares in Haldia Petrochemicals Ltd.
Mr Chatterjee said that after the meeting of the core committee on industries that advisor would be appointed in 10 days.
The government, through WBIDC, has decided to sell the shares and the entire process would be completed by the end of March 31st 2013.
The state government owns around 39% equity in HPL, which is facing funds crunch at present.
He said that the shares of the company would be auctioned and the other promoter TCG would be offered to exercise its first right of refusal.
HE added that if TGC, which holds 36% equity, declines to buy at that price, then the shares would be offered to the highest bidder.
Source:
http://www.steelguru.com/indian_news/West_Bengal_to_appoint_advisor_for_Haldia_Petro_share_sale/296193.html
