Citigroup, Goldman Among Banks Vying for Bharat Heavy Sale
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Citigroup Inc. and Goldman Sachs Group Inc. are among 17 financial companies competing to manage a share sale for Bharat Heavy Electricals Ltd. that may raise 47 billion rupees ($1 billion).
Morgan Stanley, Deutsche Bank AG, UBS AG, Royal Bank of Scotland Group Plc and SBI Capital Markets Ltd. are also seeking the mandate for the sale of a 5 percent stake in India’s biggest power equipment maker, according to a statement on the nation’s department of disinvestment’s website. The banks will make presentations July 18 and 19.