GCPL gains full control in Chile firm Cosmetica Nacional
PTI, Economic Times, 11 September 2015
Godrej Consumer Products Limited today said it has completed the acquisition of 40 per cent stake in Chile's hair colour and cosmetics company Cosmetica Nacional.
"The company has completed the acquisition of balance 40 per cent stake in Cosmetica Nacional, a market leading Hair Colorant and Cosmetics Company in Chile," GCPL said in a BSE filing.
In July, GCPL had announced it will acquire the balance 40 per cent stake in Chilean hair colour and cosmetics company Cosmetica Nacional to gain full control of the company for an undisclosed sum.
Godrej Consumer Products Ltd (GCPL), part of the Godrej Group, had in January 2012 acquired a 60 per cent stake in Cosmetica Nacional continuing its string of buys in the space in emerging markets.
With this additional stake acquisition, GCPL will have full control of Cosmetica Nacional.