The Government has advertised for corporate finance consultants to advise on the sale of Aer Lingus. The State-owned airline is expected to raise up to £600 million when it is brought to the market next year. Tenders for the work must be submitted by January 21st. It is expected that the consultants will be selected by the end of February or March. Among those expected to tender for the contract are Merrill Lynch, Soloman Smith Barney, SG Warburg, Morgan Stanley, IBI Corporate Finance and AIB Corporate Finance, as well as a number of other Irish corporate advisers.
The successful tenderer will carry out a valuation of Aer Lingus and assess market demand. It is thought that the flotation will take place in September, but Public Enterprise Minister Ms O'Rourke has said this depends totally on market conditions. The Government has also yet to decide how much of the airline to float. Ms O'Rourke has said she personally has no problem selling the whole company.
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