ABG Shipyard is reportedly in discussion with Germany-based Privinvest Holding to sell majority stake. Privinvest is expected to buy up to 49% stake in ABG Shipyard while the promoters of the company will continue as a minority shareholder post the deal. Both the entities entered into an exclusivity period for the transaction on May 29.
Privinvest Holding which has shipbuilding operations across the world is interested in picking majority stake in ABG Shipyard not only to have a presence in India but to also gain from its defence licence to build warships.
ABG Shipyard is engaged in the business of carrying shipbuilding and ship repair business. The company has emerged as the largest private sector shipbuilding yard in India with satisfied customer base all around the world.
