JSW Paints has completed the acquisition of a 60.76% stake in Akzo Nobel India. Following the completion of the acquisition, JSW Paints now holds 27,871,723 equity shares, representing 61.2% of the company’s paid-up equity share capital. The promoters have been reclassified to the ‘public’ category.
Acquisition Completed
Akzo Nobel India announced that JSW Paints has completed the acquisition of a 60.76% stake in the company. This follows the share purchase agreement executed between Imperial Chemical Industries Limited, Akzo Nobel Coatings International B.V., and JSW Paints.
Shareholding Update
As a result of the completed acquisition, JSW Paints now holds 27,871,723 equity shares in Akzo Nobel India, which represents approximately 61.2% of the company’s total paid-up equity share capital.
Promoter Reclassification
With the completion of the acquisition, the previous promoters of Akzo Nobel India have been reclassified from the ‘promoter and promoter group’ category to the ‘public’ category.
Source: BSE
