Jardine advisor for HCI divestment

Jardine advisor for HCI divestment
PRESS TRUST OF INDIA

MUMBAI: Jardine Fleming has been chosen as the global advisor for chalking out the disinvestment plans for Hotel Corporation of India, an Air India subsidiary. The HCI board, which met in Delhi on Monday, picked the leading financial consultant and a letter is to be issued shortly nominating them for the disinvestment process, HCI sources said here today.

DSP Merrill Lynch, JP Morgan Stanley and HSBC were the other three leading consultants who are in the fray. According to sources, HCI officials would shortly meet the representatives of Jardine Fleming to chalk out the details for floating a global tender and invite bids from potential investors or partners.