Apropos to the earlier press release of the Commission dated 21st August, 2024, it is informed that the earlier press release contained some miscommunication, which requires clarification. The PC Board did neither approve appointment of any Financial Advisor nor took any decision on the presentation made by the Financial Advisor on Roosevelt Hotel. The meeting of the PC Board was held on 20th August, 2024. As per agenda of the meeting, the PC Board considered the proposal for prequalification of panel of Financial Advisors for the privatisation programme. The Selection Committee presented their recommendations for consideration by the Board. The decision, in this behalf, will be announced after confirmation of the same by the Board in its next meeting, scheduled to be held in a week’s time. Further, the Financial Advisor for the divestment of Roosevelt Hotel, M/s Jones Lang LaSalle Inc (JLL), presented a Transaction Structure Report to the Board, suggesting various options for the Roosevelt transaction and responded to the queries by the Board members. The Board held an in-depth discussion on the proposed options and directed PC to carry out additional analysis on the proposed options and present the same to the Board in its next meeting, scheduled to be held in a week. There was no decision by the Board with respect to transaction options and its submission to Cabinet Committee on Privatisation (CCoP).
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