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Concor may have to sell its port terminal stakes ahead of privatisation

Photo: CONCOR

Container Corporation of India (Concor) will have to sell its stakes in two key port terminals ahead of a planned privatisation of the state-owned rail hauler by the government to avoid complications associated with the deal.

Privatisation of Concor which is 54.8 per cent-owned by the central government, is expected to draw marquee investors such as Dubai government-owned DP World, Singapore wealth fund-owned PSA International Pte Ltd, APM Terminals Management BV, the container terminal operating unit of Danish shipping conglomerate AP Moller-Maersk Group A/S, and Adani Ports and Special Economic Zone (APSEZ), India’s biggest private port operator, among others.

The deal involves selling 30 per cent of the government’s stake in the company to a strategic partner along with transfer of management control.

Read more on The Hindu BusinessLine.

Source: The Hindu BusinessLine

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