Asian Paints’ wholly owned subsidiary -- Asian Paints International, Singapore (APIPL) has divested its entire stake in Berger Paints Singapore (BPS), wholly owned subsidiary of APIPL to Omega Property Investments, Australia.
BPS had a limited presence in the Singapore coatings market and was not material to the overall International operations of AP group. The consideration received from the sale is Singapore Dollar (SGD) 4 million.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.
