Mumbai, June 27 -- JSW Paints Friday announced 74.76% stake acquisition in Akzo Nobel India Limited (ANIL) from Akzo Nobel N.V. and its affiliates in a deal valued at around Rs 9,000 crores.

JSW Paints entered into definitive agreements to acquire the stake, which is subject to approval from the Competition Commission of India (CCI) and the completion of a mandatory open offer to the public shareholders of ANIL.

ANIL is one of India's leading decorative and industrial paints players and part of Akzo Nobel, a decorative paints and industrial coatings company headquartered in the Netherlands.

With this deal India's paints market witnesses a major consolidation as established brands like Dulux and Sikkens will come under the JSW umbrella....