JSW Paints to Acquire Akzo Nobel India Paints Business: To be Merged?

After completing its internal restructuring, Akzo Nobel India Limited ("Akzo Nobel") announced complete exit from decorative paint business. In recent nyears, India's paint industry has witnessed significant transformation.

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Once dominated by a few key players, the sector has seen new entrants such as the JSW Group and the Aditya Birla Group, each aiming to become the market leader.

The acquisition of Akzo Nobel was seen as a strategic opportunity for these new players to gain a substantial foothold.

Ultimately, the race was won by JSW Paints Limited, a company of the JSW Group, marking a pivotal move in its growth ambitions JSW Paints Limited ("JSW Paints") is a part of JSW group. JSW group launched JSW Paints in 2019 which is today one of India's fastest growing paints companies, with a diverse portfolio of decorative paints and industrial coatings. With a long-standing history of product and process innovation, consumer-resonant brand marketing, state-of-the-art manufacturing facilities and an expanding, pan-India distribution network, the company aims to revolutionise the Indian paints industry.

The equity shares of the company are not listed on any bourses.

Akzo Nobel India Limited ("Akzo Nobel" or "ANIL") is an Indian arm of multinational company engaged in manufacturing of wide range of paint products (Decorative and Coatings) through iconic global brands, including Dulux, International, Sikkens and Interpon.

Akzo Nobel N.V is the main international holding company of the Akzo Nobel group. Currently, promoters' control 74.46% equity stake of ANIL. The equity shares of ANIL are listed on nation-wide bourses.

Foreign promoters decided to have only decorative paints business in ANIL. To achieve the same, ANIL approved following transactions to make ready for sale: