JSW Paints Acquires Akzo Nobel India in Landmark Rs 12,915 Crore Deal

Shares of Akzo Nobel India rose over 7% after JSW Paints announced its acquisition of the company's Indian unit for Rs 12,915 crore. This strategic move positions JSW Paints as the fourth-largest player in India's paint industry. The deal includes purchasing a significant stake and launching an open offer.

Shares of Akzo Nobel India recorded a significant surge on Friday, climbing over 7% following the announcement by JSW Paints of its acquisition of the Dutch paint maker's Indian operations in a substantial Rs 12,915-crore deal.

The share price settled at Rs 3,405 on the BSE, marking a 6.65% increase, with intra-day highs reaching Rs 3,533. On the NSE, the shares closed up by 7.20% at Rs 3,419 each.

This transaction marks a pivotal moment for JSW Paints, as it acquires a 74.76% stake in Akzo Nobel India, aiming to fortify its position as the fourth-largest company in the Indian paint sector. The deal also comprises an open market offer to acquire an additional 25% stake.

(With inputs from agencies.)