Dubai-based Transworld Holdings has managed to privatise subsidiary Shreyas Shipping, taking it off two stock exchanges in India.
Transworld said the decision was made to give it greater operational and financial flexibility over its Indian liner subsidiary. Sivaswamy Ramakrishnan, chairman of the Transworld, said the delisting has the potential to “fundamentally reposition” his business for the future.
As well as its Indian coastal container trade origins, Shreyas has recently got into dry bulk.