Lastin Infrastructure Projects Ltd to Acquire Stake in VSPL
Q. GIPL is divesting its shareholding in VSPL/VIza Seaport Pvt Ltd to which company?- Published on 21 Sep 15a. Lastin Infrastructure Project
b. IL & FS
c. Larsen and Toubro
d. None of the above
ANSWER: Lastin Infrastructure Project
Gammon Infrastructure Projects Ltd has taken the option to divest shareholding in VSPL and it has transferred 50 per cent stake to Lastin Infrastructure Projects Ltd. VSPL is the first bulk cargo BOT (build–operate–transfer) terminal of Visakhapatnam Port Trust. It is operating since 2004. Lastin Infrastructure will hold 50 per cent and Lastin Holdings Ltd., the current foreign equity investor, will continue to hold 26.2 per cent. GIPL will remain to hold the balance 23.8 per cent. Lastin Group comprising Lastin Infrastructure and Lastin Holdings (existing shareholder) will now have management control of VSPL. Lastin Holdings is a leading international player in Haldia and Paradip Ports in the field of bulk cargo handling.
