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...
Seaways plans IPO in 2018, as promoters buy out IDFC PE stake
Seaways Shipping and Logistics Ltd on Thursday said the promoters of the company had bought out the entire stake of 24% that IDFC Private Equity (IDFC PE) held in the company, even as the shipping company plans to go...
Allcargo Logistics looking for acquisitions in technology & contract logistics space
Allcargo LogisticsBSE -1.74 % is looking for acquisitions in the technology and contract logistics space, seeking to grow its business in India where opportunities will likely grow at a faster clip under GST. “We have...
Mercator in talks for acquisition of Dredging Corporation of India
Mercator Ltd (earlier known as Mercator Lines Ltd), which operates shipping, dredging, coal and oil and gas businesses, has shown preliminary interest in acquiring state-owned Dredging Corp. of India (DCIL), two people...
Insolvency: NCLT reserves order against ABG Shipyard filed by ICICI bank
The Ahmedabad bench of National Company Law Tribunal (NCLT) on Thursday reserved its order on insolvency proceedings initiated by lender ICICI Bank against ABG Shipyard Ltd. Amidst an insolvency petition filed by...
Adani Ports in fray to pick up stake in Dredging Corp
Adani Ports and Special Economic Zone (APSEZ), largest in this sector among private players, would reportedly enter the fray for acquiring the government stake in Dredging Corporation of India (DCI), a mini-ratna public...
