Mazagon Dock Shipbuilders Limited has concluded the acquisition of 16,49,16,229 fully paid ordinary shares, representing 41.73% of Colombo Dockyard PLC (CDPLC). These shares were acquired pursuant to an allotment arising from unsubscribed rights shares. Mazagon Dock is in the process of acquiring further shares through a Mandatory offer, as per the Tripartite Agreement with CDPLC and Onomichi Dockyard Co. Ltd. Further updates will be shared.
Acquisition Completion
Mazagon Dock Shipbuilders Limited has successfully completed the acquisition of a significant stake in Colombo Dockyard PLC (CDPLC). The company acquired 16,49,16,229 fully paid ordinary shares of CDPLC.
Stake Details
The acquired shares represent 41.73% of the total number of shares in Colombo Dockyard PLC (CDPLC). This acquisition was made pursuant to the allotment of shares arising from unsubscribed rights shares.
Further Acquisition
As part of the Tripartite Agreement, Mazagon Dock is currently in the process of acquiring additional shares from the existing shareholders of CDPLC. This will be done through a Mandatory offer.
Source: BSE
