Sunday Times 2
Celao Capital advises India’s Mazagon to acquire controlling stake in Colombo Dockyard
View(s):Celao Capital Pvt Ltd, a member of RNH Ventures, a boutique consulting and transaction advisory firm, has advised India’s Mazagon Dock Shipbuilders Limited to acquire a controlling stake in Colombo Dockyard PLC.
Mumbai-based Mazagon Dock Shipbuilders is a leading public sector undertaking often referred to as the Shipbuilders to the Nation.
“Mazagon will be acquiring the controlling stake from Onomichi Dockyard Japan. It is set to reshape the competitive landscape of the shipbuilding and repair industry in the region. Our team of seasoned advisors worked diligently to facilitate this cross-border deal between Japan, India and Sri Lanka, overcoming various complexities involved in such significant transactions,” said Dinuk Hettiarachchi, Joint Managing Director of Celao Capital.
“This acquisition represents a strategic alignment of resources and capabilities between Mazagon Dock Shipbuilders Limited and Colombo Dockyard PLC, positioning the entity for a turnaround and long-term growth,” said Dr Nirmal De Silva, Joint Managing Director, Celao Capital.
With this acquisition, Colombo Dockyard PLC will significantly benefit from a larger order pipeline, enhanced technological capabilities, global reach and the much-needed financial backing to take the company to greater heights, according to Celao Capital.