Drydocks World, Dubai's shipyard arm, is considering the sale of its entire Southeast Asian ship-building and repair operations in an effort to advance the restructuring of $2.2 billion of the company's debt, three bankers familiar with the situation said, The Wall Street Journal reports.
The bankers said that auditors have conducted an analysis of the Asian assets and are currently reviewing a wide range of candidates interested in purchasing some or all of the operations. They said that Drydocks is preparing to draw up a shortlist of potential bidders, which include ship repair and ship building specialists.
The bankers said that auditors have conducted an analysis of the Asian assets and are currently reviewing a wide range of candidates interested in purchasing some or all of the operations. They said that Drydocks is preparing to draw up a shortlist of potential bidders, which include ship repair and ship building specialists.