New Delhi: Cochin Shipyard Limited (CSL) has signed a Share Purchase Agreement and a Shareholders’ and Cooperation Agreement with the shareholders of Conoship International Holding B.V. (Conoship) for the proposed acquisition of a 23 percent equity stake in the Netherlands-based ship design and engineering company.
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The agreements have been executed on Thursday, following the approval accorded by CSL’s board in January 2026.
CSL will acquire the 23 percent stake for a cash consideration of 2.30 million euros. Clearance for the transaction has been obtained from the Department of Investment and Public Asset Management (DIPAM), with completion expected within two months.
Conoship, incorporated on February 13, 2014, is a Netherlands-based ship design and engineering company with a portfolio covering general cargo vessels, tankers, dredgers, ferries and offshore vessels. The company provides ship design and engineering services to shipyards worldwide.
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The acquisition is aimed at helping CSL expand into European coastal and short-sea shipping through advanced ship design solutions. CSL and Conoship will also jointly explore opportunities in emerging technologies, including alternative fuels for short-sea vessels, coastal shipping and inland waterways, as well as related marine, shipping and offshore services.
Conoship reported group turnover of 4 million euros in 2024, excluding intercompany adjustments, compared with 3.51 million euros in 2023 and 2.4 million euros in 2022. Including intercompany adjustments, group turnover stood at 4.95 million euros in 2024, 4.54 million euros in 2023 and 3.13 million euros in 2022. The company reported a group net profit of 0.22 million euros in 2024.
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