JSW Paints to Buy AkzoNobel India in Big Deal
JSW Paints Agrees to Buy AkzoNobel India
The deal needs approval from the Competition Commission of India. It also requires a mandatory offer to ANIL’s public shareholders. (AI image)
JSW Paints Limited has agreed to buy a 74.76% stake in Akzo Nobel India Limited (ANIL). The deal is worth up to Rs 8,986 crores. This price may change as per the final Share Purchase Agreement.
Key Points of the Deal
- JSW Paints needs approval from the Competition Commission of India.
- They must complete a mandatory offer to ANIL’s public shareholders.
- JSW Paints is part of the $23 billion JSW Group.
About JSW Group
JSW Group works in many areas, such as:
- Steel
- Cement
- Energy
- Infrastructure
- Automotives
- Paints
About Akzo Nobel India Limited (ANIL)
ANIL is a big name in India’s decorative and industrial paints sector. It is part of Akzo Nobel, a global company based in the Netherlands. Akzo Nobel specializes in decorative paints and industrial coatings.
What Key People Say
Parth Jindal, Managing Director of JSW Paints, said:
“Paints and Coatings is one of India’s fastest-growing sectors. JSW Paints is among the fastest-growing paint companies. Akzo Nobel India has some of the most famous global paint brands like Dulux, International, and Sikkens.”
“We are happy to welcome them to the JSW family. Together with the Akzo Nobel India team, we want to build the next big paint company.”
Greg Poux-Guillaume, CEO of AkzoNobel, said:
“This deal is a big step in our strategy. AkzoNobel India has always performed well, and we are proud of the brand and the people who made it successful. With JSW, we believe the business is in good hands. JSW has deep local knowledge and big plans for the sector.”
Who Helped with the Deal
The deal got professional help from:
- Morgan Stanley, as the only financial advisor to JSW Paints.
- Khaitan & Co., who provided legal advice.
- Deloitte, who did financial and tax checks.
