Asian Paints has acquired the balance 40% of the equity share capital of White Teak for a consideration of Rs 188 crore from the promoters of White Teak. Accordingly, the company now holds 100% of equity share capital of White Teak, by virtue of which White Teak has become a wholly owned subsidiary of the company.
The acquisition of the remaining stake in White Teak would be a next step forward in the company’s foray of being a complete home decor solution provider and in accordance with the Definitive Agreements entered into by the company with White Teak and the promoters of White Teak.
Asian Paints manufactures a wide range of paints for decorative and industrial use and also offers Wall Coverings, water proofing, adhesives and services under its portfolio.
