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| Exchange Disseminated Time 27/06/2017 09:28:49 | The Exchange had sought clarification from the company with respect to news article appearing on thehindubusinessline.com on June 23, 2017 titled "SAIL disinvestment: SBI Cap engaged as transaction advisor, Luthra and Luthra legal advisor"
The company replied stating "It is mentioned that SAIL vide its letter No.17(44) dated 29th November, 2016 had already informed to the Stock Exchange that Government of India, Ministry of Steel has communicated 'in principle' approval of the Cabinet Committee on Economic Affairs (CCEA) of the Government of India for strategic disinvestment of the Bhadrawati, Salem and Durgapur (Alloy Steels Plant) Units of Steel Authority of India Limited. Disinvestment of these Units shall be to strategic buyer(s) to be identified through two stage auction process. There are various activities to be carried out by the Company in the process of disinvestment from time to time. The appointment of Transaction Advisor, Legal Advisor and Asset Valuer by the Company is only one of such activities." |
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