GOCL Corporation Limited's UK subsidiary to sell partial stake in Quaker Houghton for $35 mn

GOCL Corporation Limited, through its UK subsidiary, namely HGHL Holdings Limited (HGHL), has beneficial interest in 4,27,395 shares of Common Stock of Quaker Chemical Corporation / Quaker Houghton, USA.

The Board of Directors of HGHL has, at its Meeting held on 18th September 2020, 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 USD 35 million (approx. Rs.257 crores @ USD 1 to Rs. 73.44) when completed. There will be no tax implication on HGHL under the transaction.

The Company's investment in HGHL is GBP 1,00,000.

Shares of GOCL Corporation Ltd was last trading in BSE at Rs.186.1 as compared to the previous close of Rs. 188.3. The total number of shares traded during the day was 5010 in over 230 trades.

The stock hit an intraday high of Rs. 190.05 and intraday low of 179.45. The net turnover during the day was Rs. 926953.

Source : Equity Bulls

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