Mumbai, June 27 -- JSW Paints Limited, on Friday, entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliates, for a maximum consideration under the Share Purchase Agreement of up to Rs 8,986 crores, subject to certain closing adjustments (Proposed Transaction).

The Proposed Transaction is subject to approval from the Competition Commission of India and the completion of a mandatory tender offer (Open Offer) to the public shareholders of ANIL.

JSW Paints is India's fastest growing paints company and a part of the USD 23 billion JSW Group, India's leading conglomerate with diverse interests across a range of B2B and B2C sectors including steel, cement, ...