New Delhi, Feb. 25 -- Europe's largest paintmaker and owner of the Dulux brand, AkzoNobel N.V., will acquire the powder coatings business and international research centre from its Indian subsidiary AkzoNobel India Ltd. for Rs.2,144 crore, the company said in a statement late Monday evening.

The deal includes two key components: a Rs.2,073 crore slump sale of the powder coatings business and a Rs.70 crore transfer of the international research centre, both to be executed through separate business transfer agreements with an indirect wholly owned subsidiary of AkzoNobel N.V., proposed to be incorporated in India.

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In addition...