Updated on March 18, 2023
A consortium is a group of individuals, companies, organisations or governments working together towards a common cause, goal, objective or business. The stakeholders in a consortium pool their resources together for the common goal, but will otherwise, continue with their normal ordinary business. Consortiums can be formed in the social sector, education sector, business sector as well as the government sector. A business consortium can be formed to bid for a very large deal. Similarly, a banking consortium can be formed to finance a considerably big financing project or a buyout deal or an Underwriting deal. The consortium bank is dissolved after meeting its objective.