The Competition Commission of India (CCI) has approved the acquisition of up to 75% shareholding in Akzo Nobel India (Target company) by JSW Paints (Acquirer). Earlier, in June, JSW Paints had intended buy a 74.76% stake in Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25% from the open market for up to Rs 3,929.06 crore. Meanwhile, Akzo Nobel NV had signed an agreement to sell its shareholding in Akzo Nobel India to the JSW Group.
JSW Paints is a part of the JSW Group, one of India's leading conglomerates with diverse interests across a range of B2B and B2C sectors, including steel, cement, energy infrastructure, automotives and paints. Akzo Nobel India is an Indian subsidiary of Akzo Nobel NV.
Akzo Nobel India is engaged in the business of manufacturing, trading and selling of paints and related products. The Company also provides research and development services to the holding company and its group companies.
| Company Name | CMP |
|---|---|
| Asian Paints | 2600.25 |
| Berger Paints India | 516.00 |
| Kansai Nerolac Paint | 220.40 |
| JSW Dulux | 2949.00 |
| Indigo Paints | 974.40 |
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