Centre clears 100%strategic sale of CEL
The Centre has approved a
100% strategic sale along with transfer of management control of Central
Electronics Ltd (CEL). Incorporated in 1974, CEL is under the
administrative control of Ministry of Science and Technology.
The CPSE is wholly owned by
the government and has a net worth of 50.34 crore as on March 2017.
The Government of India
(GoI) has ‘in-principle’ decided to disinvest its 100 per cent equity in
Central Electronics Ltd through strategic sale with transfer of management
control. The government plans to engage an advisor from a consulting firm,
investment banker or a merchant banker or a financial institution, for
providing advisory services and managing the disinvestment process. It is also
looking to appoint a legal firm for advising on the strategic sale.
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