Hyderabad-based logistics major Gati is in talks with German ship-management company Bernhard Schulte to sell a strategic stake in its loss-making shipping business to raise cash to tide over the financial crisis. Bernhard Schulte will acquire significant stake in Gati's demerged shipping business, Gati Ships, helping it to charter container vessels to capitalise on the growing cargo trade emerging out of India, said a person close to the transaction. Loss-making Gati Ships, founded in 1989, owns four container vessels, fetching a valuation of close to 200 crore, analysts said. Bernard Schulte, which manages a fleet size of more than 650 vessels, operates in 25 countries.
Source: Economic Times
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