India's Mahindra Group linked to bid for strategic stake in ABG Shipyard

摘要

India's Mahindra & Mahindra (M&M) is reportedly considering purchasing a stake in Mumbai-based ABG Shipyard in what seems to be the latest attempt by the conglomerate to expand into naval shipbuilding. Reports say that M&M has initiated talks with ABG Shipyard with a view to acquiring a strategic stake in the company, which is building training ships for the Indian Navy and in the past has constructed interceptor boats for the Indian Coast Guard. A spokesman from M&M said the company would not be commenting on the reports. A spokesman from ABG Shipyard did not respond to IHS Jane's questions on the matter, but an unidentified company official told the Times of India newspaper it was in discussion with investment bankers with a view to raising equity.