Completed ‘Akzo Nobel India’ acquisition from JSW Paints; As much as 61.2 percent share is now…

Akzo Nobel India acquisition completed from JSW Paints
JSW Paints is the fastest growing paints company in India
JSW Paints acquired 0.44% stake

Pune: JSW Paints Limited (JSW Paints) today announced that Akzo Nobel N.V. and major 60.76% shareholding in Akzo Nobel India Limited (ANIL) through its affiliates (Business) edited. JSW Paints has already acquired 0.44% stake from the public shareholders of ‘ANIL’ after successfully completing the open offer.

After today’s acquisition, JSW’s stake has increased to 61.2%. JSW Paints is India’s fastest growing paints company and is part of the $23 billion JSW Group.

Chairman of JSW Group Mr. Jindal said, “I am delighted to welcome the AkzoNobel India team to the JSW family. We believe India deserves reliable and world-class paints and coatings. Through Dulux, we are proud to deliver world-class products to homes and industries across the country.

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“We are delighted to welcome Akzo Nobel India to the JSW family,” said Partha Jindal, Managing Director, JSW Paints. This is a historic event as it is one of the largest acquisitions in the paints and coatings market in India. With the magic of Dulux and the thought process of JSW Paints, we look forward to delighting customers as well as creating lasting value for our stakeholders.”

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AkzoNobel CEO Greg Poux-Guillaume said, “Today’s agreement is an important step towards further focusing our strategic objectives and positioning AkzoNobel for long-term value creation. We are grateful for the significant contribution made by our colleagues in India.”

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