Singapore’s Wuthelam Group ups Nippon Paint stake in 1.19 trillion yen deal

Industry:    2020-08-21

Singapore’s Wuthelam Group will take majority control of Nippon Paint Holdings in a 1.19 trillion yen ($11.3 billion) deal that raises its stake to just under 60% from 39% now, the Japanese company said in a statement on Friday.

Wuthelam will become a majority shareholder through the deal, which is one of Asia’s largest cross-border transactions in 2020.

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