According to Mint, one of two people who spoke on condition of anonymity said that the US company had hired investment bank UBS to find a possible buyer for its stake in the port.
They also claimed that the port is valued at between $1bn and $1.4bn, and that Warburg plans to sell its share for $300m to $400m.
The other anonymous person reportedly said that other interested entities include Adani Ports and Special Economic Zone and JSW Infrastructure.
Additionally, they reportedly claimed that while Warburg plans to sell its share, the other shareholders in Gangavaram Port have no immediate plans to sell their stakes.
The port is currently 58.11%-owned by chairman of the board, and managing director of the port, DVS Raju and his family and 31.5%-owned by Warburg Pincus, with the government of the Indian state of Andhra Pradesh, in which the facility is located, holding the remaining share. In 2007, Warburg invested around Rs150 crore ($40m) in the port.
Last year, DP World announced its plan to invest $1bn in India over the next few years.
It has already invested $1.2bn in the country and runs six terminals, including Chennai Container Terminal and India Gateway Terminal at Cochin Port, with the operator owning a 30% market share of India’s container trade.
“We are always looking out for the right opportunities,” a spokesperson for DP World told Mint.
“We don’t comment specifically on any unless there is something to announce.
“We plan to increase our market share by increasing capacity at key locations and developing our beyond-the-gate strategy.”
