Corporate | GCPL to raise funds for acquisition plans

Corporate | GCPL to raise funds for acquisition plans

New Delhi: Godrej Consumer Products Ltd, or GCPL, is planning to raise additional funds for facilitating the company’s merger and acquisition (M&A) related plans.

“We would raise funds for possible M&A activity. How much money is to be raised that we will decide in the meeting of the board of directors to held soon," H.K. Press, vice-chairman, GCPL, told Mint. “We would look at any good opportunity in both personal care and household care."

In an announcement to the Bombay Stock Exchange, GCPL said a meeting of the board will be held on 15 December to consider raising additional funds for the firm’s present and future needs, subject to such approvals.

—Vijaya Rathore

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Gucci signs JV with Wadhwa Retailers

Mumbai: Gucci, the Italian fashion maker owned by PPR SA, signed a joint venture (JV) with Indian retailers Reena and Ashok Wadhwa, it said in an e-mailed statement.

Gucci will own 51% of the venture, it said. The fashion company opened its third Indian store in Mumbai, according to the statement.

—Bloomberg

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