M&A

M&A

Star9 Mobility to buy Pawan Hans for Rs.414 Cr

Economic Times  

The Indian government has approved selling its 51% stake in helicopter services provider Pawan Hans Ltd (PHL) along with transfer of management control for INR 211.14 crore to Star9 Mobility Private Ltd. PHL is a 51:49 joint venture of the government and ONGC providing helicopter and aero mobility services. ONGC had earlier decided to offer its entire shareholding to the successful bidder identified in the GoI strategic disinvestment transaction. Star9 Mobility is a consortium of Big Charter Private Limited, Maharaja Aviation Private Limited and Almas Global Opportunity Fund SPC.