Gokaldas Exports Expands Overseas Through Subsidiaries
Gokaldas Exports FZCO, Dubai, has successfully acquired 100% of the shares of Amibros S.A. from Solaris – II Investments Group Limited, inclusive of Atraco Industrial Enterprise, the branch of Amibros S.A. The company has also acquired 100% of the shares of Atraco Logistics Co LLC, including its branch.
Nava Apparels L.L.C-FZ, Dubai, has effectively acquired all assets of Coast Apparel EPZ Limited, Ashton Apparel EPZ Limited, and Mombasa Apparel EPZ Limited through asset purchase agreements with the respective parties.
The rights, interests, and obligations under the APAs have been seamlessly transferred/novated to a newly incorporated entity in Kenya named Ashton Mombasa Apparel EPZ Limited. This entity is now a wholly-owned subsidiary of Nava, following the agreed-upon terms amongst the involved parties.
Gokaldas Exports Limited has officially completed these transactions through its wholly-owned subsidiaries, Gokaldas Exports FZCO, Dubai and Nava Apparels L.L.C-FZ, Dubai, upon obtaining competition approvals from relevant authorities and fulfilling other closing formalities as stipulated in the transaction documents.
These strategic maneuvers mark significant milestones for Gokaldas Exports Limited, underlining its commitment to growth and expansion in the global market. The successful conclusion of these acquisitions and asset purchases strategically positions the company for further opportunities in the textile and apparel industry.
