Private Indian shipowner Mercator is looking at splitting its shipping and dredging businesses into separate entities.
The company said the move “would facilitate value discovery, creation of focus entities with identified business objectives and opportunities to independently augment their growth plans”.
Earlier this month, The Times of India had reported that Mercator was in talks with Canadian billionaire Prem Watsa’s Fairfax Group and Dutch dredging company Van Oord to bid for a controlling stake in Dredging Corporation of India.