The Public Enterprises Reform Commission (PERC) on Wednesday said it would call on prospective investors to stake their claim in State Engineering Corp., (SEC) by March 2004.
ldblquote The divestiture process will take around 20 weeks and it is expected to call for proposals from strategic investors in March 2004,
dblquote PERC said.rn
rnThe government is planning to sell a 90 per cent stake in the state engineering giant, with the remaining stake going to the employees.rn
rnThe SEC divesture is one the mid sized tickets the government will sell in 2004 to reach its Rs. 13 billion target for privatisation proceeds. rn
rnAlso on Wednesday, PERC said it had cut down on a list of eleven would-be consultants to the restructuring, to four by Wednesday. rnrn
The four firms, who will now battle it out for the post, include Bearing Point, Ernst & Young, KPMG Ford Rhodes Thornton & Co., and PriceWaterhousecoopers rnrn
The firms have the whole holiday season to prepare the technical and financial pro