EXCITEMENT BY DEFAULT: The Unlikely Privatization of SCI

Privatization is a tempting concept; rushing headlong into developing countries and scooping-up assets, franchise value and brand name for pennies on the Dollar is the sort of stuff that makes investment bankers, shipowners and other vultures drool.

So it’s really no surprise that there has been a lot of excitement over the Government of India’s plan to sell off 51% of the share capital of Shipping Corporation of India Ltd. (SCI) through a strategic sale with transfer of management control. In fact, pretty much anyone and everyone active in ship finance has considered becoming involved in the great SCI spin-off. As we go to press, local and foreign shipping companies are linking up with each other, financial advisors from Singapore to New York are dusting off pitch books for buy side and sell side mandates and just about everyone is reserving airlines seats on flights bound for Delhi.

This is only an excerpt of EXCITEMENT BY DEFAULT: The Unlikely Privatization of SCI

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