GCPL ups stake in two Mauritian holding firms

GCPL ups stake in two Mauritian holding firms

Godrej Consumer Products Ltd (GCPL) has paid USD 20.89 million cash consideration - USD 13.80 million to Godrej West Africa Holdings and USD 7 million for Darling Trading Company - for acquisition of 5% stake in each firms.

FPJ BureauUpdated: Friday, September 20, 2019, 08:27 AM IST
article-image

New Delhi: Godrej Consumer Products on Thursday said it has increased stake in two Mauritius based investment holding firms - Godrej West Africa Holdings and Darling Trading Company -- by five%, taking it to 95% each in both the companies.

Godrej Consumer Products Ltd (GCPL) has paid USD 20.89 million cash consideration - USD 13.80 million to Godrej West Africa Holdings and USD 7 million for Darling Trading Company - for acquisition of 5% stake in each firms.

"The Company through its subsidiary, has increased its stake from 90% to 95% in Godrej West Africa Holdings Ltd Mauritius and Darling Trading Company Ltd, Mauritius," the company said.

Godrej West Africa Holdings, which was incorporated in 2014 in Mauritius, holds 100% stake in South Africa based Subinite Pty and Mozambique-based Weave Mozambique LTDA, , both of which are in the ethnic hair care business.

RECENT STORIES

India's Gold Reserves Rise By $2.2 Billion; Forex Stands At $700.23 Billion

India's Gold Reserves Rise By $2.2 Billion; Forex Stands At $700.23 Billion

Navratri Sales Of Consumer Goods Surge To 10-Year High As GST Cuts Boost Demand

Navratri Sales Of Consumer Goods Surge To 10-Year High As GST Cuts Boost Demand

Rupee Falls 7 Paise To Close At 88.78 Against US Dollar

Rupee Falls 7 Paise To Close At 88.78 Against US Dollar

Mumbai Property Registrations Rise By 32% On Dussehra Eve In Metropolitan Region

Mumbai Property Registrations Rise By 32% On Dussehra Eve In Metropolitan Region

Sensex Today: Markets Close Higher For 2nd Day, Metal Stocks Lead The Rally Amid Global Optimism

Sensex Today: Markets Close Higher For 2nd Day, Metal Stocks Lead The Rally Amid Global Optimism