JSW Paints Acquires Majority Stake in Akzo Nobel India
JSW Paints Ltd has announced its acquisition of a 74.76% stake in Akzo Nobel India. The deal, valued at approximately Rs 9,000 crore, involves definitive agreements and potential adjustments. This strategic move aims to strengthen JSW Paints' market position and expand its footprint in the Indian paint industry.
- Country:
- India
In a strategic expansion move, JSW Paints Ltd confirmed on Friday its acquisition of a controlling 74.76% stake in Akzo Nobel India Limited. This acquisition amounts to a substantial Rs 9,000 crore transaction.
The company has entered into definitive agreements with Akzo Nobel N.V. and its affiliates, ensuring a maximum consideration of Rs 8,986 crore, subject to certain closing adjustments, as per the announced share purchase agreement.
The ambitious acquisition underscores JSW Paints' commitment to solidifying its presence and competitiveness within the Indian paint industry, marking a significant milestone in its growth trajectory.
(With inputs from agencies.)
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