GOCL Corporation intimates of divestment of partial stake in Quaker Houghton
Through its UK subsidiary, HDHL Holdings
GOCL Corporation, through its UK subsidiary, namely HGHL Holdings (HGHL), has beneficial interest in 4,27,395 shares of Common Stock of Quaker Chemical Corporation / Quaker Houghton, USA.The Board of Directors of HGHL at its meeting held on 18 September 2020 has decided to divest 2,00,000 shares of Quaker Houghton, at a price of $175 per share. The total value of the divestment will be USD 35 million (approx. Rs.257 crore @ USD 1 to Rs. 73.44) when completed. There will be no tax implication on HGHL under the transaction.
The Company's investment in HGHL is GBP 1,00,000.
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