MUMBAI : Mazagaon Dock Shipbuilders has announced the acquisition of a controlling stake in Colombo Dockyard, a Sri Lankan company. As per the exchange filings, the public sector company will acquire at least a 51 percent stake in the Sri Lankan dockyard for Rs 452 crore.

Mazagaon Dock Shipbuilders said that it has signed definitive agreements with Colombo Dockyard’s majority stakeholder, Onomichi Dockyard Co. Further, the company said that, besides the secondary acquisition from stakeholders in Colombo Dockyard, it will also purchase securities of the Sri Lankan company through primary subscription.