The Hindu Business Line : Sahara braces up for major revamp

NEW DELHI: Having sold its non-core Airline to Jet Airways for Rs 2,300 crore, Subrata Roy controlled Sahara Group has kicked off a major restructuring process for which it has engaged management consultant Ernst and Young.

The global consultant would give its report on 'organisation restructuring' for giving a fillip to the Sahara Group core business activities, National Director Transaction Advisor Services of E&Y, Mr Jayesh Desai said.

Asked if the size of the business for which restructuring was sought could be upwards of Rs 50,000 crore, he said, "it could easily be in that range," but declined to talk numbers.

"We had been talking to Sahara since July last year and the first task was to divest Air Sahara, which is considered non-core business," he said, adding that the focus would now be on group's financial, real estate and media and entertainment businesses.

Discounting reports of a possible sale of Sahara One, the flagship TV channel of the group's media business, Mr Desai said that his company would give a plan for professionalisation of management and businesses.

When contacted a Sahara India spokesperson confirmed that E&Y had been mandated for giving recommendations for group's restructuring. - PTI

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