Dubai-based port operator DP World is dealing with bother with the minority shareholders of Shreyas Transport who’ve objected to the port large’s proposal to amass the cargo and logistics companies of Shreyas, The Financial Occasions studies.
The information outlet cites individuals near the matter informing them that the shareholders have requested for a reversal of the transactions in representations made to Shreyas’s impartial administrators citing company governance violations.
The stakeholders claimed that there are alleged conflicts of curiosity because the Ramakrishnan household, the promoters of Shreyas, are getting a 17% stake within the DP World unit that’s buying the companies from Shreyas.
DP World moved to purchase the Shreyas enterprise in August after the acquisition of one other two feeder operators, Unifeeder and Feedertech, lately.
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