GOCL Corporation’s UK subsidiary -- HGHL Holdings (HGHL) has decided to divest 2,00,000 shares of Quaker Houghton, at a price of $175 per share. The total value of the divestment will be $35 million (around Rs 257 crore at $1 to Rs 73.44) when completed. There will be no tax implication on HGHL under the transaction. The Board of Directors of HGHL has, at its Meeting held on September 18, 2020, has decided for the same.
GOCL Corporation is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations.
