India’s public sector company, Mazagaon Dock Shipbuilders (MDL), has announced that it will be acquiring a majority stake in Colombo Dockyard PLC (CDPLC).
In a stock exchange filing, the company said that the board of directors has “approved the proposal for acquisition of a controlling and substantial stake of Colombo Dockyard PLC by way of an investment not exceeding USD 52.96 million.”
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