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 per cent, taking it to 95 per cent 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 per cent stake in each firms.
"The Company through its subsidiary, has increased its stake from 90 per cent to 95 per cent 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 per cent stake in South Africa based Subinite Pty and Mozambique-based Weave Mozambique LTDA, , both of which are in the ethnic hair care business.
Darling Trading Company holds 100 per cent stake in Godrej Consumer Products International FZCO, Dubai, which is in Hair fibres business.
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