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ABG Shipyard may sell controlling stake to Russian firm

As on March 31, ABG Shipyard's debt stood at about Rs 16,000 crore

Aditi Divekar  |  Mumbai 

Debt-laden ABG Shipyard would soon get a new owner as promoters of the company are in advance talks with a Russian shipbuilder for sale of controlling stake. “Talks are in advance stage and the Russian firm is said to have got all internal approvals for this deal,” a lender close to the development told Business Standard. Recently, lenders to ABG Shipyard commenced conversion of compulsorily convertible preference shares (CCPS) into equity. This was part of the company’s corporate debt restructuring (CDR) package, approved by the lenders in March 2014. “The ...

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ABG Shipyard may sell controlling stake to Russian firm

As on March 31, ABG Shipyard's debt stood at about Rs 16,000 crore

As on March 31, ABG Shipyard's debt stood at about Rs 16,000 crore Debt-laden ABG Shipyard would soon get a new owner as promoters of the company are in advance talks with a Russian shipbuilder for sale of controlling stake. “Talks are in advance stage and the Russian firm is said to have got all internal approvals for this deal,” a lender close to the development told Business Standard. Recently, lenders to ABG Shipyard commenced conversion of compulsorily convertible preference shares (CCPS) into equity. This was part of the company’s corporate debt restructuring (CDR) package, approved by the lenders in March 2014. “The ... image
Business Standard
177 22

ABG Shipyard may sell controlling stake to Russian firm

As on March 31, ABG Shipyard's debt stood at about Rs 16,000 crore

Debt-laden ABG Shipyard would soon get a new owner as promoters of the company are in advance talks with a Russian shipbuilder for sale of controlling stake. “Talks are in advance stage and the Russian firm is said to have got all internal approvals for this deal,” a lender close to the development told Business Standard. Recently, lenders to ABG Shipyard commenced conversion of compulsorily convertible preference shares (CCPS) into equity. This was part of the company’s corporate debt restructuring (CDR) package, approved by the lenders in March 2014. “The ...

image
Business Standard
177 22