Khaitan & Co Advised Mazagon Dock Shipbuilders Limited On Acquisition Of Majority Stake In Colombo Dockyard PLC
Khaitan & Co advised Mazagon Dock Shipbuilders Limited (“Mazagon”) on its acquisition of a majority stake in Colombo Dockyard PLC (“CDPLC”), a company listed on the Colombo Stock Exchange, for a total consideration of USD 52.96 million. The acquisition was undertaken through a combination of primary subscription of shares and secondary purchase of shares from existing shareholders of CDPLC, including Onomichi Dockyard Co. Ltd., the outgoing majority shareholder.
This strategic transaction marks a significant step for Mazagon in expanding its global footprint and aligns with its long-term vision of strengthening its position in the ship-repair and shipbuilding industry. The collaboration between Mazagon and CDPLC is expected to unlock substantial operational synergies, boost research and development capabilities, and widen market reach across the region.
Khaitan & Co provided comprehensive legal counsel covering cross-border structuring, due diligence, drafting and negotiating transaction documents, and navigating complex regulatory and foreign exchange law issues relevant to the transaction.
The Khaitan & Co transaction team was led by Anand Mehta (Partner) and Arindam Ghosh (Partner), with key support from Bhavya Bhankharia (Principal Associate) and Hansaja Pandya (Senior Associate). They were assisted by Anshuman Sakle (Partner), Ashraya Rao (Partner), Raj Panchmatia (Partner), Gaurav Malhotra (Counsel), and Ritika Ghosh (Associate).
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