Mercator’s wholly owned subsidiary - Mercator International (MIPL) has received approval from the Singapore Exchange (SGX) for divestment of entire stake in Mercator Lines (Singapore) (MLS).
Earlier, Mercator had received an approval for divestment of entire stake in MLS, a step down subsidiary held through MIPL and to seek shareholders’ approval through Postal Ballot for the same. The board of directors at its meeting held on February 11, 2016 had approved for the same.
Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
