Accenture appointed consultant for AI-Indian merger

New Delhi, July 24 (UNI) The joint board sub-committee on merger of Air India and Indian (Airlines) today shortlisted Accenture-led consortium to prepare a roadmap for future course of action.

Accenture will collaborate with Ambit Corporate Finance.

ICICI Securities had also placed its bid in association with Deloitte Touche Tohmatsu, NM Rothchild and Sons, Centre for Asia Pacific Aviation and MV Kini&Company. The third shortlisted bidder was JM Morgan Stanley, AT Kearney and Amarchand Mangaldas.

Accenture, ICICI Securities and JM Morgan Stanley were made available detailed terms of reference last month to enable them submit technical and financial bids.

The other four consortia who had submitted initial bids included: BOB Capital Markets with Airline Capital Associates, Karnik and Associations and Anmol Sekhri and Associates; Ernst&Young with IDBI Bank, Lufthansa Consulting and Luthra and Luthra; Price Waterhouse Coopers and SBI Capital Markets with Simat, Hilliesen&Eichner, and Trilegal and Lodha&Company.

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