Government to divest 51% stake in PHL, invites EoI

New Delhi, April 13 (IANS) The Central government has invited 'Expression of Interest' to divest its 51 per cent stake in chopper services company Pawan Hans Ltd (PHL).

The Preliminary Information Memorandum (PIM) inviting the EoI for the strategic divestment was issued on Friday.

The development assumes significance as the central government only days before had withdrawn the PIM for the proposed divestment.

The government owns 51 per cent equity of the company, while ONGC holds the rest 49 per cent stake.

PHL was set up as a public sector undertaking under the administrative control of the Ministry of Civil Aviation to primarily provide helicopter services for the exploration activities of ONGC and to the northeast region.

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