The government is going ahead with divestment of Balmer Lawrie & Company with the asset valuers Dalal Mott McDonalds slated to submit its report to the divestment ministry in the coming weeks.
Sources said the asset valuers have already completed their job and the next step will be to invite price bids for selling the company's 61 per cent stake.
The transaction document containing the share purchase agreement has been referred to the core group of secretaries, which is now required to be approved by the Cabinet Committee on Divestment, the sources said.
The privatisation of Balmer Lawrie has been strongly opposed by its officers and employees associations saying the company should have been restructured into strategic business units before sell off in order to fetch maximum value for its shares.
About the operational aspects, a company official said Balmer Lawrie, during the current financial year, was expecting a good growth for its various divisions.
Balmer Lawrie is engaged in the businesses of container freight, packaging, tea, travel, lubicrants, and leather chemicals.
