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JSW Paints to buy 74% stake in Akzo Nobel India for ₹8,986 crore
The deal will see JSW Paints purchase shares from Dutch parent Akzo Nobel N.V. and its affiliates, subject to regulatory clearances and a mandatory open offer to public shareholders. The acquisition of the "Dulux" brand of paints would mark one of the largest buyouts in India's paints industry and significantly bolster JSW Paints' market position against established players such as Asian Paints and Berger Paints, and the Aditya Birla Group's newly launched brand.
Akzo Nobel India, which markets well-known global brands such as Sikkens, has been a strong performer for its Dutch parent. 'We are confident the business is in the hands of a long-term partner with deep local expertise,' said Akzo Nobel N.V. chief executive officer Greg Poux-Guillaume.
The transaction is expected to reshape the competitive landscape in India's decorative and industrial paints segment, which is projected to grow in double digits over the next decade, driven by rising home improvement demand and infrastructure expansion.
The deal is subject to approval from the Competition Commission of India and successful completion of the open offer.
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