GCPL ups stake in two Mauritian holding firms

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.

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