Godrej Group Looks To Divide $4.1 Billion Empire .

The $4.1 billion Godrej Group, spanning from soaps and home appliances to real estate, is headed for a split between the brothers, sources aware of the matter said, citing external advice the family has sought for an amicable division of the 124-year-old conglomerate. It was founded in 1897 by lawyer-turned-serial entrepreneur Ardeshir Godrej, who after a few failed ventures met success with the locks business .

The Godrej Group has started a formal exercise to divide the empire between two groups led by the families of Adi Godrej and brother Nadir and another one led by their cousins Jamshyd Godrej and Smitha Godrej Crishna .

Adi Godrej’s son Pirojsha Godrej represents one side while Jamshyd represents the other side, along with Purvez Kesri Gandhi, chief financial officer, Godrej & Boyce. External advisors being consulted for the reorganisation include Nimesh Kampani, Uday Kotak and legal experts Zia Mody of AZB & Partners and Cyril Shroff, the report added.

A final decision on the matter is expected in the next six months. It is likely to involve the complete large-scale division of assets. The report, citing people close to Adi Godrej, said the family patriarch would prefer no change but the younger generation wants more clarity on ownership of assets. Other than Godrej & Boyce, which is a private entity, other group firms such as GIL, GCPL, Godrej Properties and Godrej Agrovet are all public and are controlled and operated by the group led by Adi Godrej and brother Nadir.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button