Mer­ca­tor in talks to ac­quire DCI

Maritime Gateway - - Brief News -

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.

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