JSW Paints To Acquire AkzoNobel India In Rs 8,986 Crore Mega Deal; Check Details

JSW Paints, a part of the $23 billion JSW Group, announced on Friday that the company plans to acquire a 74.76 per cent controlling stake in Akzo Nobel India Ltd (ANIL), the maker of the popular Dulux brand of paints, for a consideration of Rs 8,986 crore. The shares are being acquired from Imperial Chemical Industries and Akzo Nobel Coatings International BV, entities of Akzo Nobel NV. The agreement marks a major shift in the Indian decorative paints market, with the Dutch promoters of ANIL fully exiting their holding in the company.

In an official statement, JSW Paints said, "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."

The deal is subject to customary regulatory approvals, including clearance from the Competition Commission of India (CCI) and a mandatory open offer to public shareholders, as required under Indian takeover regulations.

This acquisition is set to boost JSW Paints’ market footprint, having entered the paint industry in 2019, and signals its intent to become a serious player in a sector known for intense competition and evolving consumer preferences.

“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,” the company added.

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Leadership Insights And Vision

JSW Paints Managing Director Parth Jindal expressed confidence in the acquisition, emphasising the growth potential of the paints and coatings industry. “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,” Jindal said.

He noted the company’s ambition to build a future-ready paint business in collaboration with ANIL’s employees, customers, and partners.

From the other side, AkzoNobel CEO Greg Poux-Guillaume commented, “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.”

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