ABG Shipyard decides to divest Western India Shipyard

“The company’s board has agreed to invite suitable bid from the prospective investor and negotiate the deal including best price,” it said.  

ABG Shipyard decides to divest Western India Shipyard
The company currently holds 60.26% stake in Western India Shipyard. Photo: Wikipedia

ABG Shipyard - has decided to sell off its subsidiary Western India Shipyard, it said in a filing with stock exchanges on Thursday.

“The company’s board has agreed to invite suitable bid from the prospective investor and negotiate the deal including best price,” it said.  

The company currently  holds 60.26% stake in Western India Shipyard. 

Recently, ICICI Bank has acquired 11% in ABG Shipyard by converting its debt into equity.

Shares of ABG Shipyard closed at Rs 33.15 per share on BSE Sensex, up by 1.19%.
 

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Written By: ZeeBiz WebTeam
Updated: Thu, Oct 06, 2016
03:50 PM IST
Mumbai, ZeeBiz WebDesk
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