JSW Paints’ Strategic Acquisition: A Transformative Deal in the Indian Paint Industry
JSW Paints will acquire a 74.76% stake in Akzo Nobel India for approximately Rs 8,986 crore, becoming the fourth-largest player in the Indian paint industry. The acquisition positions JSW Paints for significant growth in the market, pending regulatory approvals and an additional open market offer for public shareholders.
- Country:
- India
In a strategic move, JSW Paints announced the acquisition of a 74.76 percent stake in Akzo Nobel India for Rs 8,986 crore, marking its emergence as the fourth-largest player in India's burgeoning paint industry. The acquisition will involve a mandatory open offer to public shareholders worth an additional Rs 3,929 crore.
While the deal reflects JSW Paints' ambitious expansion plans into the paint segment it joined in 2019, regulatory approval is still awaited from the Competition Commission of India. JSW Paints will also maintain the listing of the target company, signaling long-term investment intentions.
The acquisition includes AkzoNobel's liquid paints and coatings business in India but excludes its powder coatings unit, which will remain under Akzo Nobel's ownership. This transformative deal is expected to propel JSW Paints into a dominant market position amid rising competition.
(With inputs from agencies.)
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