Acquisition of shares of Godrej Buildwell Private Limited (GBPL) by Godrej Projects Development Private Limited (GPDPL), both subsidiaries of the Company & subsequent merger of GBPL with GPDPL

Updated on: Nov 12, 2014

Godrej Properties Ltd has informed BSE that the Board of Directors of the Company by a Circular Resolution dated November 12, 2014, has approved the following proposals: - Godrej Projects Development Private Limited (GPDPL), a wholly owned subsidiary of the Company will acquire 49.90% of the paid-up share capital of Godrej Buildwell Private Limited (GBPL). a subsidiary of the Company, from India Realty Excellence Fund through its Investment Manager Motilal Oswal Private Equity Advisors Private Limited (the Investor). - Upon acquisition of shares by GPDPL from the Investor, GBPL would be merged with GPDPL through a Scheme of Arrangement, subject to such terms as may be approved and necessary approvals as may be required.

Source : BSE - >www.bseindia.com

Published on November 12, 2014

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