Vedanta Resources Ltd, Megha Engineering and Infrastructure Ltd (Meil), and Great Eastern Shipping have submitted expressions of interest (EoIs) for buying out the government’s 63.75% stake in Shipping Corp. of India (SCI), said two people aware of the development.
US-based Safesea Group and a consortium of Foresight Offshore Drilling Ltd SA, Belgium-based Exmar NV and Dubai-based GMS DMCC have also submitted EoIs for buying SCI, the people said.
“This (EoI) will be followed by a shortlisting of qualified interested parties, post which RFP (request for proposal) and draft definitive agreements will be shared through a data room created for this purpose. Post this, financial bids will be submitted, and a reserve price will be fixed,” said one of the two people cited above. “Once a buyer has been selected, it has to make an open offer to public shareholders to acquire a minimum of 26% shares of SCI.”
