Gati has completed the process of retiring, replacing foreign currency convertible bond (FCCB) with Goldman Sachs, said Mahendra Agarwal, managing director and chief executive officer of Gati to CNBC-TV18.
"We are very definite that before the due date (December 6, 2011) this will be replaced. Therefore Gati will not default for FCCB," he said. The company would be issuing new FCCBs worth USD 22 million to Goldman Sachs. Further, Gati is also looking to hive off its ship division to another company and has inked an MoU for the same. "We are in advance stage of finalising the joint venture with new partner," Agarwal added. Below is the edited transcript of AgarwalDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
