GCPL hikes stake in Africa's Weave Senegal to 100 pc

Home-grown FMCG firm Godrej Consumer Products (GCPL) has increased its stake in Africa's hair and skin care firm Weave Senegal to 100 per cent for an undisclosed sum.
"The company, through its subsidiary, has increased its stake from 51 per cent to 100 per cent in Weave Senegal Ltd. The company...Has also reduced one layer of non-operational investment holding company in Mauritius," GCPL said in a BSE filing today.
The company did not disclose further details of the deal, citing confidentiality.
In August last year, GCPL acquired 100 per cent shares in in Zambia's Hair Credentials Zambia and 51 per cent in Senegal's Weave Senegal to ramp up presence in African market.

Shares of Godrej Consumer Products closed 2.18 per cent higher at Rs 1,648.05 on BSE.