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Berger Paints to enter into SPA to acquire 100% stake in SCPL

31 May 2017 Evaluate

Berger Paints India has received an approval for entering into the Share Purchase Agreement (SPA) with the existing shareholders of Saboo Coatings (SCPL) for acquisition of 100% stake in SCPL. The total consideration is Rs 81.77 crore, subject to closing adjustments for variations in net debt and net working capital. The board of directors at their meeting held on May 30, 2017, has approved for the same.

Berger Paints India is the second largest paint company in India with a gross turnover of more that Rs 5,000 crore. It is present in all segments of paint including decorative, automotive, industrial, protective and powder coatings.



Peers
Company Name CMP
Asian Paints 2335.00
Berger Paints India 469.35
Kansai Nerolac Paint 178.10
JSW Dulux 3053.45
Indigo Paints 1017.80
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