New Delhi, June 28 -- Mazagon Dock Shipbuilders Limited (MDL) picked its first international acquisition with a controlling stake of Colombo Dockyard PLC (CDPLC) in an all-cash deal capped at Rs.452 crore.

The acquisition will strengthen Mazagon's position in the ship repair and shipbuilding industry by unlocking operational synergies, enhancing research development capacities and expanding market reach, the defence public sector undertaking said in a regulatory filing.

The deal is expected to be completed within 4 to 6 months, with the acquisition being the first instance of an Indian shipyard, both state-owned and private, acquiring a shipyard overseas, according to Moneycontrol.

Colombo Dockyard PLC is a publicly listed company in S...