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Construction : Finance Update | March 2016 | Source : Infrastructure Today

Shapoorji in talks with Karaikal port

Shapoorji Pallonji Group is in talks with the promoters and private equity investors of Karaikal Port, a unit of Chennai-based realty and infrastructure group MARG, to acquire a 51 per cent stake in the company for almost Rs.1,000 crore, a media report said, citing unnamed sources. If concluded, the transaction would be among the largest in the ports sector, which has been battling a drop in outbound and inbound shipments. The deal would also help Karaikal port reduce debt on its books.
 
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