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

Punjab National Bank Cuts Marginal Cost Of Funds-Based Lending Rate By 5 Basis Points Across All...

Punjab National Bank Cuts Marginal Cost Of Funds-Based Lending Rate By 5 Basis Points Across All...

Bank Of Maharashtra Shares Rise After Q1 Update, Strong Growth Seen In Advances & Deposits

Bank Of Maharashtra Shares Rise After Q1 Update, Strong Growth Seen In Advances & Deposits

DMart Operator, Avenue Supermarts, Reports 16.2% Hike In Standalone Revenue From Operations At...

DMart Operator, Avenue Supermarts, Reports 16.2% Hike In Standalone Revenue From Operations At...

Reliance Industries To Consolidate Consumer Goods Brands, Prepares New Subsidiary For Retail IPO...

Reliance Industries To Consolidate Consumer Goods Brands, Prepares New Subsidiary For Retail IPO...

Asian Paints Reviews Order Passed By Fair Trade Regulator CCI; To Cooperate During Investigation

Asian Paints Reviews Order Passed By Fair Trade Regulator CCI; To Cooperate During Investigation