Latest news with #GregPoux-Guillaume
Time of India
02-07-2025
- Automotive
- Time of India
Akzo Nobel eyeing for long-term ties with JSW, exploring opportunities in aerospace, marine coating biz
Akzo Nobel NV, the Dutch multinational operating in paints and performance coating business, is looking for a long-term partnership with JSW Paints and it will continue to have "important presence" in India , where it is looking for a play in aerospace and marine coating space, said CEO Greg Poux-Guillaume. The company is retaining its powder coating business and R&D centre in India after transferring its stake in Akzo Nobel India Ltd (ANIL) to JSW Paints, part of Sajjan Jindal-led USD 23-billion JSW Group. Akzo Nobel NV will remain the technology partner to JSW Paints, with a 4.5 per cent royalty and licensing agreement, said Guillaume in a media round-table here. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo "So India remains a large and important presence for us. And it remains a significant market for us to tackle, but with powder and with things like aerospace," said Guillaume. About ANIL, he said it's an 'exciting time' as the firm is joining a group that has a track record and is owned by a family that has been visionary. Live Events "...this is a long term partnership and we will be JSW's technology partner for the coating businesses and that is for perpetuity and we will also look at opportunities to do things in other areas in which we were not historically present in India, because we have a lot of businesses that have potential applications in India," said Guillaume. Akzo Nobel has retained its powder coatings business and International Research Centre (R&D). These two units were transferred by ANIL earlier this February to its Dutch parent firm Akzo Nobel NV in a Rs 2,143-crore deal. When asked about his plans with these businesses, Guillaume said now powder coatings is a fast-growing business globally and has a lot of new applications. "One of the biggest ones these days is electric vehicles (EVs), because powder has not only coverage applications, but also electrical insulation applications. So it's really well suited to that. Most of the large electrical vehicle companies, like BYD in China, are customers," he said. Guillaume sees a "lot of potential" in the powder coatings business, in which Akzo Nobel NV is twice the size of the number two worldwide and will continue to push in that. Besides, the multinational firm is also looking for another vector for growth in India, such as aerospace coatings, in which it is a market leader globally and not present in India. "We are the market leader in aerospace coatings. If you take a plane, the likelihood that that plane is coated by Akzo Nobel is roughly 50 per cent and if you go into any maintenance facility for large planes, the likelihood that what you're seeing sprayed is Akzo Nobel is actually north of 50 per cent," he said, adding, "So we were not historically present in India because the market was still nascent but it's changing now." The aircraft maintenance facilities are increasingly in India, said Guillaume. "And at some point, it makes sense for us to have a physical presence too, and then we will decide whether we want to do it by ourselves or whether we want to do it with a friend," he said about the partnership. Speaking about India R&D centre, Guillaume said JSW gets the R&D centre for decorative paints; however, it retains it for its powder coating business. "But, we also have a large R&D centre for our coating businesses around the world, which is based in India. And which we retain. It's an integral part of us," he said. Guillaume said as per the agreement, JSW Paints will continue to pay 4.5 per cent royalty on the industrial coating business to the global entity. "Before, it was the Indian entity (ANIL) paying to the parent company, and now it is JSW paying to the parent company," he explained. Last week, while announcing the deal, Akzo Nobel NV said that from the sale of the stake in ANIL, it expects approximately 900 million euros, of which around 500 million euros will be used for deleveraging. It also intends to launch a 400 million Euro share buyback programme. When asked whether it also includes India, Guillaume said: "No, it's for a global company. We have a global shareholding base, actually 60 per cent of our investors are US investors." "And as part of a normal capital allocation for a large industrial as well as large global company, you invest in buybacks, you invest in acquisitions, and you also return capital to shareholders. That's part of the good hygiene of serviceicing your share-holders and rewarding them for their trust," he said, adding, "In this case, we felt that it was a good message to buyback some of our shares because we feel that right now we are undervalued, and deploying 400 million for buy back, shows that we are actually putting our money where our mouth is." Guillaume further added that India is the only country in the world where Akzo Nobel has a listed entity. "Otherwise, Akzo NV is a globally listed company" on the Dutch exchange with a market cap north of 10 billion euros, he added. JSW Paints Managing Director Parth Jindal said there would be a synergy between Akzo Nobel for its other business also besides decorative paints business, which it acquired from the Dutch multinational. "In industry, it's a very synergistic move because today JSW Paints is the number one player in coil coatings in the country. ANIL also has a very strong position in coil coatings and protective coatings. So together we'll become number one in that segment for sure. They are very strong in auto refinish. Again, we can definitely grow that with MG (JSW MG Motor) and others," he said, adding, "Those synergies will get unlocked." JSW MG Motor India is a joint venture between JSW Group and SAIC Motor (owner of MG Motor India). Akzo Nobel is also very strong in marine, and hence JSW "will double down" on that. "So aim is very clear that we want to grow. We want to grow fast. We want to grow sustainably, and we want to grow by being competitive," he said.
United News of India
28-06-2025
- Business
- United News of India
JSW Paints acquires Akzo Nobel India's paint business for Rs 12,915 Cr
Mumbai, June 28 (UNI) JSW Paints has officially announced that it will acquire Akzo Nobel's India paint business in a Rs 12,915 crore transaction which was executed with support from Morgan Stanley as the exclusive financial adviser to JSW Paints. Khaitan & Company provided legal advisory services, while Deloitte conducted financial and tax due diligence to execute the deal. According to a company press release, JSW Paints will acquire a 74.76 percent stake in Akzo Nobel India which makes Dulux brand of paints for Rs 8,986 crore, which will be followed by an open market offer to an additional 25 percent stake valued at Rs 3,929.06 crore. "JSW Paints entered into definitive agreements to acquire up to 74.76 percent stake in Akzo Nobel India from Akzo Nobel NV and its affiliates, for a maximum consideration under the share purchase agreement of up to Rs 8,986 crore," according to a company press release here today. JSW Paints Managing Director Parth Jindal said, "Paints is one of India's fastest growing sectors. JSW Paints is among the fastest growing paint companies. Akzo Nobel India is home to some of the most globally renowned brands of paints and coatings like Dulux, International and Sikkens. We are delighted to incorporate them into the JSW family. In collaboration with the Akzo Nobel India team, including staff, clients and associates, we aim to establish the next generation paint organisation." AkzoNobel CEO Greg Poux-Guillaume said, "This transaction is a significant milestone in the execution of our strategy. AkzoNobel India has consistently been a strong performer. We are proud of the brand and talent that have made it a success. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector." UNI XC SS
Time of India
27-06-2025
- Business
- Time of India
JSW Paints to acquire Akzo Nobel India in Rs 8,986-crore deal
JSW Paints, part of USD 23 billion JSW Group , on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints , for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm. "JSW Paints today (Friday) entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India from Akzo Nobel NV and its affiliates, for a maximum consideration under the share purchase agreement of up to Rs 8,986 crore," it said. With this transaction, ANIL's Dutch promoters group, which together held 74.76 per cent shareholding in the company, has exited the Indian decorative paints market , which is witnessing disruption with entry of new players as Aditya Birla Group. The deal is subject to certain closing adjustments and regulatory approvals from the Competition Commission of India (CCI) and the completion of a mandatory open offer to the public shareholders of ANIL. The deal will help JSW group expand its play into the paint segment, which it entered into in 2019 and is a relatively new player establishing its base in the industry. "This transformative acquisition positions JSW Paints as one of the major players in the sector, which is expected to see robust growth in the years ahead," it said. JSW Paints Managing Director Parth Jindal said Paints & Coatings is one of India's fastest-growing sectors and JSW Paints is among the fastest growing paint companies. "Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens. We are excited to welcome them to the JSW family. Together, along with the Akzo Nobel India family -- employees, customers and partners -- we aspire to build the paint company of the future," he said. AkzoNobel CEO Greg Poux-Guillaume said, "This transaction is a significant milestone in the execution of our strategy. AkzoNobel India has been a consistently strong performer, and we are proud of the brand and talent that have made it a success. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector." Morgan Stanley acted as the exclusive financial advisor to JSW Paints on this transaction, while Khaitan & Co. acted as the legal advisor and Deloitte as the financial and tax due diligence advisor. In October last year, Akzo Nobel NV announced a strategic review of its portfolio in South Asia and is looking for strategic options, including partnerships, joint ventures, mergers or divestments. This is to deploy capital towards expanding its core coatings business. Akzo Nobel India has a presence in a wide range of paints and coatings segments spanning from decorative paints; automotive and speciality coatings; industrial coatings; marine, protective and yacht coatings to powder coatings. Its revenue from operations in FY25 was Rs 4,091.21 crore. Earlier on February 25, ANIL has said it will transfer its Powder Coatings business and International Research Centre (R&D) to its Dutch parent firm Akzo Nobel NV in a Rs 2,143-crore intergroup deal. AkzoNobel India had acquired "intellectual property rights" of Akzo Nobel Coatings International BV for its decorative paints business in India, Bangladesh, Bhutan, and Nepal for a consideration of Rs 1,152 crore. The Indian paint industry is dominated by players such as Asian Paints, Berger, Kansai Nerolaca, and AkzoNobel India. In last 5-6 years, several new players have entered this market, including Pidilite with Haisha Paints, Grasim with its Birla Opus, and JSW Paints. Besides, pipes and fittings manufacturer Astral acquired Gem Paints and JK Cements entered by acquiring Acro Paints asking its entry into the paint sector. In its latest annual report, Akzo Nobel India, citing the data of the Indian Paints Association, said the paints & coatings industry in the country is estimated to be USD 8.5 billion in value and 6.3 million MTPA by volume.
Mint
27-06-2025
- Business
- Mint
JSW Paints to acquire Akzo Nobel India in ₹9,000 crore deal
Mumbai: JSW Paints said Friday it will acquire a 74.76% stake in Akzo Nobel India Ltd. from its Dutch parent Akzo Nobel N.V. and its affiliate, in a deal valued at nearly ₹ 9,000 crore. The acquisition, subject to regulatory approvals and a mandatory open offer to minority shareholders, will bring established brands like Dulux and Sikkens under the JSW umbrella. The transaction marks a significant consolidation in India's paints market, historically dominated by a handful of players. With this deal, JSW Paints is positioning itself as a serious contender behind Asian Paints and the recently aggressive Birla Opus, which has quickly scaled up to become the second-largest by capacity. 'We are excited to welcome them to the JSW family,' said Parth Jindal, managing director of JSW Paints. 'With the magic of Dulux and thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders.' Shares of Akzo Nobel India jumped more than 8% as of 11:30am (India time) on Friday, trading at ₹ 3,455.90 on the BSE. The transaction is priced at an estimated ₹ 2,639.4 per share, a 17.32% discount to Thursday's closing price, as per Mint calculations. 'This transaction is a significant milestone in the execution of our strategy. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector,' said AkzoNobel CEO Greg Poux-Guillaume. The Dutch paints maker had flagged a possible exit from India in October 2023, when it launched a strategic review of its local operations. The entry of JSW marks the second major foray by a domestic conglomerate into the Indian paints market in recent years. Until recently, the sector was led by Asian Paints, followed by Berger Paints, Kansai Nerolac and Akzo Nobel. That hierarchy has since been upended, with Birla Opus emerging as a formidable rival, and JSW now eyeing a top-four position. JSW Paints was launched in 2019 and is part of the $23 billion JSW Group. Its portfolio spans decorative and industrial paints. India's decorative and industrial paints market is projected to reach $15.04 billion by 2029, growing at a compound annual rate of 9.38% from 2024, according to an ICICI Direct report. As demand spreads beyond metro markets, competition in the sector has intensified. JSW was not the only contender. Pidilite Industries and Indigo Paints were also in the running to acquire Akzo Nobel India. Indigo, a more recent entrant that has broken into the top tier of the sector, is also vying for a top-four spot.
New Indian Express
27-06-2025
- Business
- New Indian Express
JSW Paints acquires Dulux-maker AkzoNobel India for Rs 8,986 crore
MUMBAI: JSW Paints, part of the diversified JSW Group, has signed a definitive agreement to acquire up to 74.76% stake in the larger rival and the Dulux-maker Akzo Nobel India for Rs 8,986 crore, marking one of the largest deals in the around Rs 90,000 crore domestic paints sector. The deal also involves an open offer and will pay the way the Dutch company to completely exit the country. The acquisition will make JSW Paints, which has not yet been able to make a clear mark in the paints segment even after six years, a major player in the decorative and industrial coatings space, subject to regulatory approvals and a mandatory open offer. Akzo Nobel India, the owner of Dulux, is part of Akzo Nobel NV and its affiliates. The group, in an exchange filing on June 27, said that the maximum consideration under the Share Purchase Agreement is up to ₹8,986 crore, subject to certain closing adjustments. The transaction is subject to approval from the Competition Commission and the completion of a mandatory tender offer to the public shareholders of the company. The deal was in the making for a few years now and is part of the Amsterdam, the Netherlands-based company's global recast and had many bids from a consortium of Advent International and Indigo Paints, and Fevicol maker Pidilite Industries. JSW will acquire 74.76% stake from the Dutch promoters/holding entities-- Imperial Chemical Industries and Akzo Nobel Coatings International BV, JSW said on Friday. On completion of the Akzo's Dutch promoter group, which together held 74.76% shareholding in the local unit here, exits the domestic decorative paints market, which is witnessing disruption with entry of new players as Aditya Birla Group. The deal will help JSW group expand its play into the paint segment, which it entered into in 2019 and is a relatively new player establishing its base in the industry. JSW Paints managing director Parth Jindal said paints and coatings is one of the fastest-growing sectors. "Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens.' AkzoNobel chief executive Greg Poux-Guillaume said, this transaction is a significant milestone in the execution of our strategy. AkzoNobel India has been a consistently strong performer, and we are proud of the brand and talent that have made it a success.'
