{"id":36717,"date":"2018-11-09T17:29:21","date_gmt":"2018-11-09T11:59:21","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=36717"},"modified":"2018-11-16T16:04:29","modified_gmt":"2018-11-16T10:34:29","slug":"centre-to-sell-its-entire-stake-in-dredging-corporation","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/centre-to-sell-its-entire-stake-in-dredging-corporation\/","title":{"rendered":"Centre to sell its entire stake in Dredging Corporation"},"content":{"rendered":"

Centre to sell its entire stake in Dredging Corporation<\/b><\/a><\/p>\n

News:<\/b><\/p>\n

    \n
  1. The Cabinet Committee on Economic Affairs (CCEA) has approved divestment of its entire 73.44 percent stake in Dredging Corporation of India to a consortium of four ports.<\/span><\/li>\n<\/ol>\n

    Important Facts:<\/b><\/p>\n

    2. The <\/span>consortium of<\/span> four ports <\/b>are namely Vishakhapatnam Port Trust, Paradeep Port Trust, Jawahar Lal Nehru Port Trust and Kandla Port Trust.<\/span><\/p>\n

    3. The government holds 73.44% shares in DCIL valued at a little over \u20b9700 crore as per current market prices of the share.<\/span><\/p>\n

    4. The strategic disinvestment of DCIL shall be undertaken after conducting <\/span>due diligence<\/b> exercise by both the entities with the help of advisors appointed for the transaction.<\/span><\/p>\n

    5. Background: <\/b>The government’s <\/span>divestment target<\/b> for the fiscal was Rs 80,000 crore and so far it has garnered over Rs 15,000 crore from PSU stake sales.<\/span><\/p>\n

    6. Impact:<\/b><\/p>\n