Corporate News
Cochin Shipyard Limited has executed a Share Purchase Agreement and Shareholders’ And Cooperation Agreement to acquire 23% equity shares of Conoship International Holding B.V. (Conoship), a Netherlands-based ship design and engineering company, for a cash consideration of 2.30 million Euros. The acquisition, which is expected to be completed within two months and required clearance from the Department of Investment and Public Asset Management (DIPAM), will allow Cochin Shipyard to expand into European coastal and short-sea shipping and explore opportunities in technologies such as alternate fuels. Conoship reported a Group Turnover of 4 million Euros (excluding intercompany adjustments) and 4.95 million Euros (including intercompany adjustments) for the year ended December 31, 2024.