India Business News: The Godrejs have reached a settlement to split the Rs 59,000-crore ($7 billion) locks-to-land development group to “better align ownership in acknowle
The Godrej family has begun the formal division of the conglomerate established more than a century ago by exiting the boards of each others companies and will soon divest stakes in them, said people with knowledge of the matter.
The amicable separation is between two branches of the founding family with Adi Godrej and brother Nadir Godrej on one side and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other. The latter two are brother and sister.
Godrej Industries: The Godrej family has started the formal division of their conglomerate, with Adi and Nadir Godrej exiting boards and divesting stakes. The division aims to establish clear ownership for future generations and enhance shareholder value.