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(From India Business Insight)
The disinvestment of the 51 percent of stake of the State-owned Shipping Corporation of India (SCI) is likely to be completed by Sep 2001. The six bidders are expected to commence the financial due diligence exercise soon and have completed the technical due diligence. SCI wants to declare its financial results for 2002- 2003 before the final disinvestment even as the Ministry of Disinvestment has sought security clearance of the remaining six bidders. Great Eastern Shipping and Essar Shipping appear to be leading in the scramble to acquire the stake in SCI.
The other bidders are Sterlite Industries, the Iffco-Kribhco combine, …