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...
Reliance Industries considers sale of $989 million Asian Paints stake
Reliance Industries is considering selling its stake in India’s largest paint maker valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter. The company...
Berger to acquire remaining 3.59pc stake in STP ‘shortly’
Berger Paints India Ltd plans to soon acquire the remaining 3.59 per cent stake in STP Ltd, taking the total shareholding in the construction chemical company to 95.53 per cent. The paint major said the business and...
Berger Paints to acquire Kolkata-based construction materials maker
Paint manufacturer Berger Paints India is acquiring Kolkata-based STP Ltd (STPL), makers of construction and related materials for an enterprise value of Rs 167.5 crore. In a filing with the stock exchanges, the company...
Nippon Paint pours into Australia’s DuluxGroup with $2.7 billion offer
Japan’s Nippon Paint Holdings Co Ltd has proposed buying Australia’s biggest paint maker DuluxGroup Ltd for A$3.8 billion ($2.7 billion), expanding its global footprint though entering Australia just as a housing boom...
Insolvency: Sheenlac Paints plans takeover of Jenson & Nicholson subsidiary
Tamil Nadu-based Sheenlac Paints is eyeing to take full control of its joint-venture (JV) with Jenson & Nicholson India Ltd (JNIL) even as the latter faces the insolvency resolution process under the National...
Asian Paints acquires remaining 49% stake in Sleek International
Asian Paints Ltd on Monday said it has acquired the remaining 49% stake in kitchen solutions provider Sleek International Pvt. Ltd from the Ahuja family for Rs50 crore. In August 2013, Asian Paints had acquired 51%...
Nippon Paint bids for Axalta, merger talks with Akzo Nobel end
Nippon Paint Holdings Co Ltd (4612.T) made an all-cash offer on Tuesday to acquire U.S. coatings company Axalta Coating Systems Ltd (AXTA.N), two people familiar with the matter said, ending merger talks between Axalta...
How PPG lost its $29.5 billion bet on Dulux paint
In early March, U.S. paint maker PPG (PPG.N)’s Chief Executive Michael McGarry flew from Pittsburgh to Amsterdam to take Akzo Nobel (AKZO.AS) boss Ton Buechner for lunch. There, the 59-year-old American ambushed...
Shareholders take Akzo Nobel to court in effort to aid PPG takeover
Akzo Nobel (AKZO.AS) shareholders angered by the Dutch paint maker’s rejection of a 26.3 billion-euro ($29.5 billion) takeover offer from U.S. rival PPG Industries (PPG.N) go to court on Monday seeking a pivotal...
Berger Paints, Rock Paint tie up to market automotive refinish paints
Berger Paints India Ltd on Friday said it had entered into an agreement with Rock Paint Co. Ltd of Japan to market automotive refinish paints with the aim of eventually setting up a joint venture between the two firms...
Berger enters marine paints segment, to bring in Bolix brand in India
India’s second-largest paint maker Berger Paints has entered into a partnership with Japan-based Chugoku Marine Paints (CMP) in a deal that marks the former’s entry into the marine paints segment. While...
