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Article: INDIA'S GODREJ CONSUMER OKAYS MERGER OF 2 SUBS WITH ITSELF.
- Article from:
- AsiaPulse News
- Article date:
- May 28, 2009
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MUMBAI, May 28 Asia Pulse - Personal care products maker Godrej Consumer Products (BSE:532424) on Wednesday said its board has approved the merger of Godrej ConsumerBiz and Godrej Hygiene Care -- two group entities -- into itself in an all-share transaction to further consolidate operations.
Pursuant to the merger, Godrej Consumer Products will have a 49 per cent stake in Godrej Sara Lee Ltd (GSL), a joint venture between Godrej group and US-based Saralee Corp, Godrej Consumer Products said in a filing to the Bombay Stock Exchange.
Besides, the promoters' stake in Godrej Consumer will increase to 74.77 per cent from 69.73 per ...