Gammon Infrastructure to sell stake in Vizag Seaport

Gammon Infrastructure is planning to divest almost half of its stake in Vizag Seaport (VSPL), currently under a liquidity crunch. The company owns a 73.76 per cent stake in VSPL that operates a multi-commodity terminal at the Centre-owned Visakhapatnam port in Andhra Pradesh. Gammon Infra is reportedly selling 35 per cent of the total equity. The company is looking for approval from its shareholders for the stake sale in VSPL, where British Virgin Islands-incorporated shipping and ports firm Lastin Holdings owns around 26 per cent equity.

Contact: Gammon Infrastructure.

Website: www.gammoninfra.com