India, Dec. 11 -- JSW Paints has finalised the acquisition of a 60.7% majority stake in AkzoNobel India, thereby becoming the company's new promoter.
With this transaction, the combined entity positions JSW Paints—just five years old—as the third-largest player in India's decorative paints market.
In a regulatory filing, AkzoNobel India Ltd (ANIL) stated that JSW Paints now holds 27,871,723 equity shares, representing 61.2% of the company's paid-up equity capital.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....