Logistics

Centre decides on strategic disinvestment of Kamarajar Port to Chennai Port Trust

Our Bureau Chennai | Updated on May 23, 2019 Published on May 23, 2019

A view of the Kamarajar Port at Ennore. File photo   -  THE HINDU

The Centre has appointed RBSA Advisors as transaction advisors for the process

The Government of India (GoI) ‘in-principle’ decided on a strategic disinvestment of 100 per cent equity in the Kamarajar Port Ltd (KPL) to the Chennai Port Trust (ChPT) in a single stage process by following ‘Arms Length’ principles, said a press release from RBSA.

RBSA is a global independent Valuation, Investment Banking, Restructuring & Advisory firm.

The Centre has appointed RBSA Advisors as transaction advisors for the process.

According to the press release, the deal would range between Rs 4,000 crores and Rs 5,000 crores.

KPL is an unlisted Public Sector Company (PSU) under the administrative control of Ministry of Shipping with a 67 pet cent stake held by the GoI and the remaining 33 per cent held by ChPT.

The turnover of the company in FY19 (upto 31st December 2018) was Rs 541.83 crores, while their net worth was Rs.2163.65 crore.

Published on May 23, 2019
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