Cochin Shipyard, which is owned by the Indian Ministry of Shipping, has started preliminary discussions with Mumbai-based ABG about purchasing a controlling stake in the company, according to business daily Livemint.
ABG had also had initial approaches from India’s Shapoorji Pallonji and Reliance Defence & Engineering (formerly Pipavav Defence & Offshore), and also from Liberty House Group of the UK.
However, Shapoorji Pallonji, earlier considered as the likely front-runner, is now out of the frame, according to one local source.
