Tuesday, September 1, 1998
Panel moots Air India privatisation
The disinvestment commission has recommended that government holding in Air India be scaled down to 40 per cent in two stages and the government should divest completely through a trade sale in Central Electronics (CEL). In its eighth report released on Monday, 40% equity in AI should be divested to a strategic partner which should be a consortium of airlines and investors with at least 25% of the consortium's equity coming from Indian investors, the commission has said.
Videocon to buy Philips CTV unit
Consumer electronics major, Videocon International will buy Philips India's Salt Lake TV plant located in Calcutta for an undisclosed amount. The two companies have reached a "broad understanding" on the "sale and transfer of Philips' consumer electronics factory".
Enron ties up $1 bn for Dabhol 2nd phase
US multinational, Enron has tied up finances of over $ one billion (over Rs 4000 crore) for the 1,444 mw second phase of the Dabhol power project in Maharashtra with guarantees coming from the Exim banks of Japan and Belgium.
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