Banks, led by State Bank of IndiaNSE 0.19 %, are set to reject the offer made by Liberty House for ABG ShipyardNSE -4.43 % on grounds that there’s no upfront payment of cash, and that the bid itself is too low, said two...
Even after 4th round, Liberty is lone bidder for ABG Shipyard
Liberty House, the UK based metals group, has once again emerged as the only bidder for ABG ShipyardNSE 1.94 % which is into the fourth round of bidding, said people familiar with the matter. The company has paid off...
Fresh bids invited for ABG Shipyard under IBC
Fresh bids have been invited for debt-ridden ABG Shipyard under the Insolvency and Bankruptcy Code (IBC) after lenders rejected an earlier resolution plan, according to a public notice. ABG Shipyard is undergoing...
$400-million enterprise valuation: DP World and NIIF to buy Continental Warehousing
Dubai’s port operator DP World along with the National Investment and Infrastructure Fund (NIIF) is buying Continental Warehousing Corp (Nhava Sheva), one of the largest companies in the logistics sector in India, for...
Liberty House’s bid for ABG rejected
Lenders, led by ICICI Bank, have rejected the only bid they received, from Liberty House, for ABG ShipyardBSE -0.33 %, prompting the resolution professional to opt for yet another round of bidding, said a person...
ICICI Bank takes Western India Shipyard to NCLT
Private lender ICICI Bank has initiated insolvency proceeding against Western India Shipyard, a subsidiary of ABG Shipyard which too is facing bankruptcy proceedings. The company has outstanding debt of Rs 130 crore and...
JSW Infra, Essar Ports, Royal Vopak among firms vying for Sterling Port
Domestic and foreign port operators have shown interest in buying the upcoming Sterling Port in Dahej, according to two people aware of the matter. JSW Infrastructure, a unit of Sajjan Jindal-led JSW Group, Essar Ports...
Warburg Pincus in talks with DP World to sell stake in Gangavaram Port
US-based private equity firm Warburg Pincus has started talks with UAE ports operator DP World to sell its 31.5% stake in Gangavaram Port in Andhra Pradesh, two people aware of the development said. Warburg has hired...
Cochin Shipyard forms JV with Hooghly Dock & Port
Cochin Shipyard (CSL) today said it has incorporated a JV — Hooghly Cochin Shipyard Limited (HSSL) — with Hooghly Dock & Port Engineering Ltd for upgradation and modernisation of shipbuilding...
German Dry Docks looks to acquire Bharati Defence
German Dry Docks Group has approached the lenders of troubled Bharati Defence and Infrastructure (formerly Bharti Shipyard) for a possible acquisition, pegging its enterprise value at around $370 million. Bharati has...
China Merchants Port to buy 90 percent of Brazilian port operator for $924 million
China Merchants Port Holdings Co Ltd (0144.HK) said on Monday it would buy 90 percent of Brazilian port facilities operator TCP Participações S.A. for HK$7.23 billion ($924 million), as it aims to expand into Latin...
Hyundai Merchant Marine says in talks with BlackRock about potential investment
South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday. BlackRock is in talks with HMM...
