Dubai terminal operator DP World has been allowed by New Delhi to open an Indian holding company for its portfolio of Indian interests, a move that could lead to a spin off local IPO.
The new company will take over all liabilities of the existing subsidiaries of DP World in relation to the concession agreements. DP World is currently the biggest foreign port operator in India, having invested around $1.2bn to date across six terminals.
The new Indian holding company, Hindustan Ports Pvt Ltd (HPPL), will look to list in Mumbai, local media reported.
Source: Splash 24/7
Source: Splash 24/7