Four advisers in fray for STC divestment

international consultants deloitte & touche and ernst & young are among four players in the fray for appointment as global advisor for state trading corporation disinvestment. the other two consultancies in the race are v malik and associates and andersen. these four are due to make a presentation before the disinvestment ministry, according to sources. sources said that after the presentation, the companies would be asked to submit their final bids quoting the consultant fee which could be upto one per cent of the final transaction value. government, last month, had invited expressions of interest for appointing global advisors for stc disinvestment, where it is in the process of reducing its stake to 26 per cent from 91 per cent through strategic sale. another 10 per cent will be offloaded to employees as part of stock option scheme. sources said being a premier trading house, transacting business in various commodities would be selling point for disinvestment.