Asian Paints Ltd.

Asian Paints is planning to acquire 51% stake in Ethiopia-based Kadisco Paint through its Singapore-based subsidiary Berger International for an undisclosed sum. In this regard, Berger International, Singapore has signed a share purchase agreement and other definitive agreements and documents with Kadisco on October 22, 2014. This acquisition will enable the company to expand its international footprint.

Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia. The consideration for the acquisition will be disclosed on closing and completion of the transaction.

Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.