JSW Paints Gears Up for Landmark Akzo Nobel India Acquisition

JSW Paints is set to acquire Akzo Nobel India Ltd in a colossal Rs 13,000-crore deal, as revealed by Managing Director Parth Jindal on Tuesday. This strategic acquisition will be financed through a blend of promoter investments, debts, and private equity funds.

For the burgeoning JSW Paints, a 5-year-old company, completing the acquisition promises to elevate it to the third-largest player in the decorative paint segment, with expectations of reaching Rs 7,500 crore in turnover in the coming three years.

Despite selling its decorative paints segment, Akzo Nobel will maintain a presence in India, retaining its powder coatings business and serving as a technology partner for JSW. The deal's completion is contingent upon approvals from Akzo Nobel India's shareholders and the Competition Commission of India.

(With inputs from agencies.)