Debt Financing

APM Terminals, Navin Jindal, Dubai's GMS place bids for RNaval

Business Line  

APM Terminals Management BV, Navin Jindal Group, and a consortium of Dubai's GMS Inc and Turkey's Besiktas Group have placed bids for Reliance Naval and Engineering Ltd (RNaval), the bankrupt shipyard earlier owned by Anil Ambani's Reliance Group. The Committee of Creditors (CoC) led by IDBI Bank is slated to meet later this week to evaluate the offers. RNaval is being sold under the Insolvency and Bankruptcy Code (IBC) to recover unpaid dues of INR 10,878 crore of financial creditors.

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