Secretaries' panel to take up REIL, HNL, Hoogly Printing sell-off

NEW DELHI: The Core Group of Secretaries on Disinvestment is likely to take up for approval soon the draft transaction documents for disinvestment of three PSUs, including Hoogly Printing.
The Core Group of Secretaries on Disinvestment is likely to freeze draft transaction documents for PSUs under the Heavy Industries Ministry -- Hoogly Printing, Hindustan Newsprint and Tide Water Oil, and also take a view on the financial bids received for Rajasthan Electronics.
According to sources, all four PSUs are nearing the final stage of disinvestment and would be taken up by the CGD soon.
In the case of REIL, the price bids have already been received and these would now be taken up by the CGD.
For Hoogly Printing, the documents would be frozen by the CGD, and subsequently the financial bids would be called.
Sources said there was an immense interest in the company where the government is going for an outright sale.
In the case of Kerala-based paper company HNL, the documents would be finalised by the CGD.
The government is offloading 74 per cent equity in the company and foreign bidders are understood to be in the race.