Godrej family looks to divide a $4.1 billion empire
The $4.1 billion Godrej Group has initiated a formal exercise to divide the businesses between two groups-one led by the families of patriarch Adi Godrej and his brother Nadir, the other by their cousins Jamshyd Godrej and Smitha Godrej Crishna, said people with knowledge of the matter. Reorganising the consumer goods to real estate and engineering empire has been under discussion for months and has now gathered momentum with Pirojsha Godrej, Adi Godrej's son, representing that side of the family. Jamshyd is representing the other side, along with Purvez Kesri Gandhi, chief financial officer, Godrej & Boyce. External advisors close to the family-bankers Nimesh Kampani, Uday Kotak and legal experts Zia Mody of AZB & Partners and Cyril Shroff-are also being consulted. "The Godrej family has been working on a long-term strategic plan for the group for the last few years to ensure best value for its shareholders," Godrej Industries Ltd (GIL) and Godrej & Boyce to...