Kansai Nerolac Paints has completed acquisition of the 55% equity share holding of RAK Paints, for a total consideration of Bangladeshi Taka (BDT) 50.41 crore (Rs 41.49 crore), after making adjustments for borrowings, working capital and fixed assets as at the Closing Date.
Earlier, the company had entered into Share Purchase Agreement (SPA) to acquire 55% of the paid-up equity share capital of RAK Paints, Bangladesh.
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.
