Buyers line up for 26% stake in Indian firm BEML

摘要

Some of India's biggest private-sector defence firms have been linked with bids to acquire a controlling stake in BEML Limited, formerly Bharat Earth Movers Limited. Tata Motors, Mahindra and Mahindra, Bharat Forge, and Ashok Leyland - all producers of military vehicles - are reported to be preparing bids to acquire a 26% stake in the state-owned enterprise, which was put up for sale by the government earlier this year. The private-sector companies have not officially confirmed their interest, although BEML said in a stock exchange filing on 5 March that the company has now appointed a consultant for the share sale.