Godrej family to split ₹1.76 trillion conglomerate, says report; what we know so far

livemint.com:

₹1.76 lakh crore business conglomerate, is heading for a split in an amicable manner, a report said on October 3, citing persons privy to the development. The two factions between whom the 126-year-old business giant is set for a split are – Godrej Industries & Associates, which is headed by brothers Adi and Nadir Godrej, and Godrej & Boyce Manufacturing Company (G&B) led by their cousins Jamshyd Godrej and Smitha Godrej Crishna, the Economic Times report said.

Here's what we know so far: While negotiations are underway over an array of subjects, the two most critical points of discussion are the usage of the Godrej brand name and the possibility of royalty payments and valuations of the land currently held by G&B, sources told the publication. The two factions will reportedly soon finalise the formal split plan, which will spell out how various business verticals like real estate, consumer products, engineering, appliances, security solutions and agro-commodities are divided.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! “There are a lot of cross-holdings among family members and the family trusts that need to be disentangled," one of the sources who is aware of the discussions so far told the newspaper.

There is another cousin of Adi, Rishad, “who does not have kids of his own but is a shareholder", the person added, noting that the process is “complicated". The decision to formally split was rooted in the “aspirations of the future generation", and their “different way of thinking", the sources reportedly said, while also pointing out that some of the business of the Godrej group had grown enormously in recent