Govt reinvites initial bids for National Fertilisers

NEW DELHI: The government on Thursday re-invited initial bids for sale of 51 per cent stake in National Fertilisers Limited (NFL) to a strategic partner.
Interested parties would be required to submit their expression of interest for acquiring majority stake in the fertiliser major by February 10, sources said.
The government had earlier invited initial bids for NFL in late 2000 and had received expression of interest from a number of parties.
However, after a number of policy initiatives, including decisions on fertiliser pricing and settlement of outstanding dues, there had been a change in the existing financial position and prospective business and operating environment of the company prompting the government to re-invite bids.
Sources said companies which had earlier expressed interest would now be required to send a communique to global advisor Rabo India Finance confirming their continued interest in the company.
The Cabinet Committee on Disinvestment had at its last meeting allowed fertiliser cooperatives Iffco and Kribhco to bid for stake in NFL besides PSUs Madras Fertilsers and Fertiliser and Chemicals, Travancore.