Mercator in talks to acquire DCI
Mercator Ltd has shown preliminary interest in acquiring state-owned Dredging Corp. of India (DCI). The government has been talking about selling off its entire stake in DCI as part of its divestment plans for this financial year. Mercator is one of the players that has shown interest in the asset and is having preliminary discussions with the relevant government agencies, it has been reported. The government owns 74.47 per cent in DCI.
At the current market price, the sale of DCI could fetch the exchequer around `1,400 crore. The government is soon expected to appoint an investment bank to begin the sale process.