HSA Advocates advised a consortium of four ports in relation to strategic sale of Dredging Corporation of India by Government of India.

 

HSA Advocates represented a consortium of four ports Vishakapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust in relation to strategic sale of Dredging Corporation of India concluded by Government of India (GoI). The four ports have acquired 100% of GoI’s shares in Dredging Corporation of India (i.e. 73.47% of total shareholding).

 

A share purchase agreement has been signed between the Union government and the four ports. The government held 73.47 per cent equity stake in the company. Of 73.47 per cent, the Vishakapatnam Port Trust bought 19.47 per cent, Paradeep Port Trust 18 per cent, Jawaharlal Nehru Port Trust 18 per cent and Deendayal Port Trust 18 per cent.

 

HSA Advocates was the legal advisor to the four ports in the transaction led by Senior Partner Anjan Dasgupta along with Partner Aninda Pal assisted by associates Tanya Singh and Soumya Bhargava.

 

Linklegal advised GoI while RBSA was the transaction and financial advisor to GoI. SBI CAPS was the transaction and financial advisor to Vishakhapatnam Port Trust, Paradeep Port Trust, Jawahar Lal Nehru Port Trust and Deendayal Port Trust.

 

The news also appeared in Business Standard. Here’s the link:

 

https://wap.business-standard.com/article-amp/economy-policy/govt-sells-stake-in-dredging-corporation-to-four-ports-for-rs-1050-cr-119030801156_1.html

 

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