Asian Paints sells entire 4.42% stake in Akzo Nobel India for Rs 734 cr
Asian Paints Limited on Wednesday sold its entire 4.42% stake in Akzo Nobel India Limited, holding 20,10,626 equity shares of the company's paid-up share capital.
The transaction was executed through a bulk deal at a price of Rs 3,651 per share, amounting to a total deal value of approximately Rs 734 crore.
With this, Asian Paints said that the company has fully exited its investment in Akzo Nobel India. The sale comes amid heightened activity in the paints sector, especially after JSW Paints' acquisiton of the Dulux maker for Rs 8,986 crore.
(More to come)
The transaction was executed through a bulk deal at a price of Rs 3,651 per share, amounting to a total deal value of approximately Rs 734 crore.
With this, Asian Paints said that the company has fully exited its investment in Akzo Nobel India. The sale comes amid heightened activity in the paints sector, especially after JSW Paints' acquisiton of the Dulux maker for Rs 8,986 crore.
(More to come)
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