Godrej Group's Restructuring Gets Green Light from Competition Commission
The Competition Commission of India has approved the Godrej group's internal restructuring, which will see the 127-year-old conglomerate split between two branches of the founding family.
Godrej GroupCompetition Commission Of IndiaInternal RestructuringReal EstateMumbaiReal Estate MumbaiJun 18, 2024
The CCI said that the proposed combination relates to the realignment of interests, legal ownership, and management of various entities within the Godrej group. This will take place under the Family Settlement Agreement (FSA) dated April 30, 2024, executed by the family branches.
The realignment will encompass entities like the GILAC Group Entities and G&B group entities, marking a strategic effort to streamline operations and consolidate governance structures within the conglomerate. The target enterprises forming part of the proposed combination include the Godrej Industries & Associate Companies (GILAC) Group entities and G&B Group firms.
GILAC Group companies include Godrej Industries Ltd, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and AstecLifesciences Ltd, while G&B Group Entities include Godrej & Boyce Manufacturing Company, Godrej Holdings, Godrej Infotech, and RKN Enterprises.
The Godrej group, which spans from soaps and home appliances to real estate, has been split between two branches of the founding family. Adi Godrej and his brother Nadir will keep Godrej Industries, which has five listed firms, while cousins Jamshyd and Smita will get unlisted Godrej & Boyce and its affiliates, as well as a land bank, including prime property in Mumbai.
Information
Godrej Group is a 127-year-old Indian conglomerate that operates in various sectors such as soaps, home appliances, real estate, and more. The group has a strong presence in India and is known for its brands like Godrej Consumer Products, Godrej Properties, and Godrej Agrovet.
Godrej & Boyce Manufacturing Company is a leading Indian company that operates in the manufacturing sector. Godrej Holdings is a holding company that operates in the real estate sector. Godrej Infotech is a leading IT company that provides software solutions to various industries.
Frequently Asked Questions
What is the Godrej group's internal restructuring about?
The Godrej group's internal restructuring is about the realignment of interests, legal ownership, and management of various entities within the group.
Who will keep Godrej Industries after the restructuring?
Adi Godrej and his brother Nadir will keep Godrej Industries, which has five listed firms.
What will Jamshyd and Smita get after the restructuring?
Jamshyd and Smita will get unlisted Godrej & Boyce and its affiliates, as well as a land bank, including prime property in Mumbai.
What is the Family Settlement Agreement (FSA) dated April 30, 2024?
The Family Settlement Agreement (FSA) dated April 30, 2024, is an agreement executed by the family branches that outlines the terms of the realignment.
Why is the Godrej group undergoing internal restructuring?
The Godrej group is undergoing internal restructuring to streamline operations and consolidate governance structures within the conglomerate.
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