Mumbai’s Mazagon Dock Shipbuilders Limited (MDL) has acquired a 41.73% equity stake in Sri Lanka’s Colombo Dockyard PLC, marking a key step in its international expansion. The acquisition, involving rights shares from Japan’s Onomichi Dockyard, triggers a mandatory offer for CDPLC’s shareholders, enhancing maritime collaboration between India and Sri Lanka.
Mazagon Dock Shipbuilders Limited (MDL) has made a significant move by acquiring a controlling stake in Colombo Dockyard PLC for up to $52.96 million. This landmark acquisition enhances MDL’s strategic position in the Indian Ocean, aligning with its ambition to become a regional maritime leader and reinforce India’s maritime presence.
Mazagon Dock Shipbuilders Ltd (MDL) is advancing towards acquiring a 51% stake in Colombo Dockyard PLC, which is currently facing financial difficulties. The deal, expected to formalize with a Memorandum of Understanding soon, aims to strengthen India’s maritime position while addressing job security concerns among trade unions amid potential management changes.
