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Vedanta, DP World eye govt’s stake in Shipping Corporation of India

Vedanta, DP World eye govt’s stake in Shipping Corporation of India
Vedanta, DP World eye govt’s stake in Shipping Corporation of India
Based on Friday’s share closing price of ₹56.05, the government’s stake could fetch it about ₹1,664 crore. The transaction will also trigger an open offer for an additional 26 per cent stake.

Synopsis

The roadshows attracted 8-9 potential investors, including shipping companies from Norway and South Korea, according to informed sources.

NEW DELHI: Vedanta and Dubai’s DP World have shown interest in acquiring Shipping Corporation of India after the government started the process of selling its stake in the vessel operator by organising investor road shows, according to people familiar with the matter.Executives from both companies participated in virtual meetings involving SCI’s management, advisers and officials from the government’s Department of Investment and Public Asset
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