03APR2019 - NEWS - Investment holding company Fairfax India acquires 41.4% share in Seven Islands Shipping Limited by investing around INR 5 billion

Investment holding company Fairfax India has recently secured a 41.4% share in Seven Islands Shipping Limited by investing around INR 5 billion in the company. Seven Islands will use the proceeds of the direct subscription to expand its ocean-going fleet by acquiring additional vessels and for general corporate purposes. The investment was completed through a direct subscription and secondary acquisition of Seven Islands shares. Seven Islands, the second largest private tanker shipping company in India, transports products along the Indian coast as well as in international waters. The company owns 14 vessels with a total capacity of 1 million dwt.

Published by Editor - www.Livebunkers.com at 03-Apr-2019 06:00:34 [UTC] , contact editor at editor@livebunkers.com