Mazagon Dock to Acquire Majority Stake in Colombo Dockyard
Aruna Shantha
28-Jun-2025 10:18:24
India’s Mazagon Dock Shipbuilders Ltd has signed a deal to acquire a controlling stake in Sri Lanka’s Colombo Dockyard PLC for up to US$52.96 million. The agreement, signed on June 27 with current majority shareholder Japan’s Onomichi Dockyard Co. Ltd, will see Mazagon Dock take at least 51% ownership through a combination of primary and secondary share purchases.
The acquisition will make Colombo Dockyard a subsidiary of the Indian state-run shipbuilder, subject to regulatory approvals, including clearance from the Colombo Stock Exchange. Mazagon Dock expects to complete the deal within four to six months.
The move is aimed at enhancing operational synergies, boosting R&D capabilities, and expanding market presence across South Asia. Further details will be disclosed as the transaction progresses.
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