GE Shipping Misses Demerger Deadline

Thursday, August 03, 2006
The deadline for the demerger of Great Eastern Shipping Company (GE Shipping), has expired. Business Standard reports that it is not known whether the company would go for an extension of the deadline or call off the proposed demerger. The deadline stipulated under the demerger scheme approved by the Bombay High Court was at the close of business hours of August 2. GE Shipping executives were not available for comment on the issue. GE Shipping had last year approved a scheme of arrangement for demerger of the offshore service business into a separate company, Great Offshore Ltd. The demerger scheme, heard by the Bombay High Court on January 27 this year, was approved on February 3. Pending receipt of certain approvals, GE Shipping has not announced the effective date of demerger under the scheme. The demerger scheme was delayed primarily because of pending approvals from contractors, mainly Oil & Natural Gas Corporation ONG. (Source: Business Standard)
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Baltic Mercur II makes maiden voyage to Antwerp

This week Atlantic Ro-Ro Carriers (ARRC) celebrates the maiden voyage of the Baltic Mercur II via the port of Antwerp as part of their regular transatlantic service to the US Gulf.

USCG Provides Safety Tips to Paddlesports Enthusiasts

As the boating season unofficially begins, the 9th Coast Guard District is reminding paddlesport enthusiasts to take precautions to ensure safe trips and increase

USS George Washington Completes Carrier Qualifications

Carrier Air Wing (CVW) 5 and the Nimitz-class aircraft carrier USS George Washington (CVN 73) completed its carrier qualifications (CQ), May 23. CQ allows

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3910 sec (3 req/sec)