In a significant move within the Indian paint industry, JSW Paints is poised to acquire Akzo Nobel India for approximately $1.1 billion. This acquisition involves purchasing Akzo Nobel NV’s 74.76% stake in its Indian subsidiary, valuing the entire company at around ₹12,000–12,200 crore, which is about 25% below its current market valuation.
The deal is expected to position JSW Paints as a major player in both the decorative and industrial paint segments in India. Following the acquisition, JSW Paints will initiate an open offer for an additional 26% of Akzo Nobel India’s shares, as per regulatory requirements.
This strategic acquisition is anticipated to be finalized by mid-June, subject to the completion of necessary agreements and regulatory approvals.
Also read:Â Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
