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Mazagon Dock Shipbuilders (MDL) to buy 51% stake in Colombo Dockyard PLC for $53-M
Source Colombo Dockyard PLC (opens in a new tab)The Hindu (opens in a new tab)BSE Announcement (opens in a new tab)
Mumbai-based, publicly listed government-owned Mazagon Dock Shipbuilders Ltd (MDL) is to acquire a 51% stake in Sri Lanka-based, loss making Colombo Dockyard PLC (CDPLC) in a USD 52.96 million deal. The transaction is expected to be completed in six months.CDPLC has been in debt (over INR 8 Billion) over the years. For FY24, it had reported a turnover of LKR 25,447 million.