Talks with Privinvest on stake sale still on: ABG Shipyard

ABG Shipyard today said Privinvest Holding, a major player in global naval, commercial vessels and super yacht industry, has evinced interest in strategic investment in the company, and the talks are still under way.
"... Privinvest has expressed firm interest in strategic investment in the company, and talks in this regard are still going on," ABG Shipyard said in a regulatory filing.
The company gave the details in response to a clarification sought by the exchange on a media report.
"Till date, the level of talks is not at the stage which has to be announced to the exchanges...," the company said.

ABG Shipyard had said in June that it is in discussions with Privinvest Holding for a strategic stake sale.
The company did not offer any clarity on the equity percentage to be sold, but Privinvest is expected to buy up to 49 per cent through fresh equity worth Rs 1,000 crore.
Queries sent to ABG Shipyard earlier had remained unanswered.
According to reports, Privinvest is interested in picking a majority stake in ABG Shipyard to get a foothold in India and gain from its defence licence to build warships.