Investment bank Rothschild has been asked by State Bank of India to find a new partner for struggling ABG Shipyard.
The bank is leading a group of lenders seeking to increase their ownership in the indebted shipbuilder to 51%.
They have 49% so far through a debt for equity swap, but another swap was voted down by shareholders.
ABG CFO Dhananjay Datar told the Economic Times that lenders want to work with Rothschild and the yard to find a strategic investor.
