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Government to divest 51% stake in PHL, invites EoI

IANS  |  New Delhi 

The has invited 'Expression of Interest' to divest its 51 per cent stake in services company Ltd (PHL).

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

The development assumes significance as the only days before had withdrawn the PIM for the proposed divestment.

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

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

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 13 2018. 23:46 IST
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