Kansai Nerolac Paints has received an approval for sale of company’s land admeasuring 15.86 acres (15 acres 86 cents) at Perungudi, Chennai to Brigade Properties or its Nominees/ another Special Purpose Vehicle (SPV) formed by Brigade Group and GIC Singapore for a sum of Rs 550 crore. The board of director at its meeting held on June 29, 2015 has approved for the same.
The company has entered into a Term Sheet with Brigade Properties relating to the same. The sale and the sale proceeds is subject to due diligence by the Purchaser and such other procedures as may be necessary in regard to acquisition of the land by the Purchaser.
Kansai Nerolac Paints is amongst the leading paint companies in India. The company’s manufacturing facilities are located at Uttar Pradesh, Maharashtra, Tamil Nadu and Haryana.
| Company Name | CMP |
|---|---|
| Asian Paints | 2463.40 |
| Berger Paints India | 468.80 |
| Kansai Nerolac Paint | 203.05 |
| JSW Dulux | 2930.65 |
| Indigo Paints | 839.55 |
| View more.. | |
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