Kansai Nerolac Paints has entered into Share Purchase Agreement (SPA) to acquire 55% of the paid-up equity share capital of RAK Paints, Bangladesh as on the Closing Date for a total consideration of Bangladeshi Taka (BDT) 57.26 crore (around Rs 45.81 crore).
The company will be entering a high growth potential Bangladesh paint market through this acquisition. The acquisition would be in accordance with the Regulations issued by the Reserve Bank of India for Overseas Direct Investment (ODI).
Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, Automotive Coatings and Performance coatings.
