Govt to divest 26% stake in BEML
The Centre invited bids for strategic divestment in BEML, four years after the Cabinet approved divestment in the company. The government will sell 26 per cent out of the total 54.03 per cent stake it holds in the company along with transfer of management control, according to the preliminary information memorandum released by the Centre.
Recently, the Core Group of Secretaries on Divestment had approved sale of government stake in the company that has interests in defence, aerospace, mining and rail. The sale would push the Centre’s privatisation drive at a time when the government wants to limit PSU presence, and exit from companies in non-strategic sectors.
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