ICICI Securities has been selected to advise the Finance Ministry on two merger and acquisition (M&A) deals, an official said. Six firms -- Ernst & Young LLP, Deloitte Touche Tohmatsu, ICICI Securities, IDBI Capital Market and Securities, SBI Capital Markets and RBSA Capital Advisor LLP -- had made presentations before the Department of Investment and Public Asset Management (DIPAM) on November 26. "ICICI Securities has been selected as an advisor on two merger and acquisition deals to be done by the Finance Ministry," an official said. The selection of the advisor would help DIPAM cut down the procedural time for going ahead with M&A once the companies are finalised. "Once the companies are finalised, the advisor can start due diligence process which will help save time," the official added. The DIPAM is racing against time to meet the Rs 80,000-crore disinvestment target. So far this fiscal, it has raised over Rs 32,000 crore from minority stake sale in CPSEs and ...
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