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Govt to sell 100% stake in Kamarajar Port to Chennai Port for over Rs 4k cr

The deal is expected to be closed in 4-6 months

Aditi Divekar  |  Mumbai 

trade, import, export, shipping

The government has "in-principle" decided upon a strategic disinvestment of 100 per cent equity in Limited to Trust in a single-stage process by following ‘arms length’ principles.

The deal size is expected to be in the range of Rs 4,000-5,000 crores.

In the four years, grew at 11 per cent -- from 27.34 million tonnes in 2013-14 to 30.45 million tonnes in 2017-18.

RBSA Advisors has been appointed the transaction advisor to the Government of India on this disinvestment. KPMG, and PricewaterhouseCoopers were the other bidders in the fray, said a source aware of the development.

“It should take 4-6 months for the deal to close,” said the source.

Limited is an unlisted public sector company under the Ministry of with 67 per cent shareholding held by the Government of India and balance 33 per cent held by Trust. The turnover of the company in 2018-19 (upto 31st December 2018) was Rs 541.83 crore, while net worth of the company is pegged at Rs 2,163.65 crore.

First Published: Wed, May 22 2019. 18:45 IST
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