Asian Paints’ wholly-owned subsidiary--Asian Paints International (APIPL), Singapore, has entered into a Share Purchase Agreement with certain minority shareholders of SCIB Chemicals S.A.E., Egypt (SCIB), a subsidiary of APIPL and SCIB for the acquisition of 24.3% of the share capital of SCIB for a consideration of $4.13 million (around Rs 34.42 crore) on May 26, 2024.
The acquisition of the stake in SCIB is subject to the completion of certain formalities relating to the transfer of shares and such approvals as may be required as per Egyptian local laws. Post completion of the acquisition, APIPL shall hold 85.6% stake in SCIB.
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.
| Company Name | CMP |
|---|---|
| Asian Paints | 2463.40 |
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| JSW Dulux | 2930.65 |
| Indigo Paints | 839.55 |
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