Asian Paints divested its entire 4.42% stake in Akzo Nobel India for ₹734 crore, selling shares at ₹3,651 apiece. This follows JSW Paints’ planned acquisition of a 74.76% controlling stake from Akzo Nobel’s Dutch promoters for ₹8,986 crore. The Dutch parent group exits the Indian paints market amid new competition, pending regulatory approvals.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets