Target Entity: Conoship International Holding B.V. (Conoship)
Type of Deal: Acquisition of minority equity stake (23%)
Stake/Capacity: 23% of equity shares
Deal Value: €2.30 Million (approximately ₹20.7 crore at current exchange rates)
Target Company Details:
- Leading ship design and engineering company based in the Netherlands
- Diverse portfolio including general cargo vessels, tankers, dredgers, ferries, and offshore vessels
- Provides services to shipyards worldwide
- Date of Incorporation: February 13, 2014
Financial Performance of Target:
Group Turnover (excluding intercompany adjustments):
- 2024: €4.0 Million
- 2023: €3.51 Million
- 2022: €2.4 Million
Group Turnover (including intercompany adjustments):
- 2024: €4.95 Million
Group Net Profit (PAT):
- 2024: €0.22 Million
Strategic Rationale:
- Penetrate European coastal and short sea shipping markets with advanced design solutions
- Jointly explore significant opportunities for upcoming technologies including alternate fuels in short-sea vessels
- Expand capabilities in coastal shipping, inland waterways, and related services in marine, shipping and offshore industries
- Business synergy between CSL's shipbuilding expertise and Conoship's design capabilities
Approval Status:
- Board approval obtained on January 28, 2026
- Clearance obtained from Department of Investment and Public Asset Management (DIPAM)
- Not a related party transaction
- Executed Share Purchase Agreement and Shareholders' And Cooperation Agreement on September 24, 2026
Timeline:
- Expected completion within 2 months from September 24, 2026