Stocks

GOCL zooms over 10 per cent on stake divestment in Quaker Houghton

Internet Desk | Updated on September 21, 2020 Published on September 21, 2020

The shares of GOCL Corporation has risen as much as 12 per cent on Monday early trade.

The company had informed the exchanges that the Board of Directors of its UK subsidiary HGHL Holdings, decided to divest 2 lakh shares of Quaker Houghton for $175 per share.

HGHL Holdings Limited has a beneficial interest in 4,27,395 shares of Common Stock of Quaker Chemical Corporation/Quaker Houghton, USA, the company informed to the stock exchange,.

The total value of the divestment will be USD 35 million (approximately Rs 257 crore) when completed. There will be no tax implication on HGHL under the transaction.

At 9.47 am, the shares trade at Rs 203.45 apiece, up 10.57 per cent.

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Published on September 21, 2020
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