Bharati Shipyards is putting itself in a “formidable position” in India with the acquisition of a compatriot shipbuilder for less than $17m.
The Bombay-quoted company is swelling its stable of yards from six to nine with the purchase of a controlling stake in Tebma Shipyards.
The proposed takeover deal of southern India-based Tebma will leave Bharati with a 51% stake and management control for INR 757.5m