Khaitan & Co advised Mazagon Dock Shipbuilders Ltd in relation to acquisition of a majority stake in Colombo Dockyard PLC ("CDPLC"), an entity listed on the Colombo Stock Exchange for a total consideration of USD 52.96 million. The majority stake in CDPLC will be acquired by Mazagon, through a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. Ltd., a majority shareholder of CDPLC).
This transaction will enable Mazagon and CDPLC to strengthen their respective positions in ship-repair and shipbuilding industry, by unlocking operational synergies, enhancing research and development capabilities, and expanding market reach.
The Firm role included preparing transaction documents, navigating the cross-border nuances, and transaction structing.
The deal was assisted by:
Competition/Antitrust: Anshuman Sakle (Partner), Ritika Ghosh (Associate)
Corporate and Commercial: Ashraya Rao (Partner), Gaurav Malhotra (Counsel)
Dispute Resolution: Raj Panchmatia (Partner), Gaurav Malhotra (Counsel), Ritika Ghosh (Associate)
The core team consisted of Anand Mehta (Partner), Arindam Ghosh (Partner), Bhavya Bhankharia (Principal Associate) and Hansaja Pandya (Senior Associate).