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JSW Paints to Snap Up AkzoNobel India Stake in $1.1 Billion Deal
StartupTalky
·
1m ago
Medial
JSW Paints plans to acquire a 74.76% stake in AkzoNobel India from its Dutch parent company for $1.1 billion, valuing the Indian unit at about INR 12,000-12,200 crore. The acquisition aims to boost JSW Paints' market position in industrial and decorative paints in India. JSW will finance the deal through promoter equity and bank loans, with completion expected by mid-June. This move positions JSW for potential growth and an IPO, despite AkzoNobel India's recent challenges.
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JSW Paints to buy Akzo Nobel India for Rs 9000 cr, announcement today
Economic Times
·
16d ago
Medial
JSW Paints is acquiring a 75% stake in Akzo Nobel's India business for Rs 9,000 crore, valuing the company at Rs 12,000 crore. This acquisition positions JSW Paints as the fourth-largest player in India's competitive paints market. Akzo Nobel, known for its 'Dulux' brand, holds about a 7% market share in India. The deal involves an open offer to purchase a 26% stake from minority shareholders, potentially allowing the Dutch company to keep a small stake.
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Dulux paints maker AkzoNobel seeks premium dowry for its India business
Livemint
·
8m ago
Medial
AkzoNobel, Europe's biggest paintmaker and owner of Dulux, is planning to exit its India business worth an estimated $2.5-3 billion. The Dutch company has approached potential buyers, including JSW Group, Adani Group, Aditya Birla Group, and Asian Paints Ltd. AkzoNobel has been operating in India for over seven decades but wants to leave due to increasing competition in the domestic market. The promoters of AkzoNobel India are demanding a 50% premium on the current market value, although potential buyers are currently only willing to pay a 25-40% premium.
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Grapevine: Oyo, BBC Studios, AkzoNobel India, JSW Paints, TPG, and SIDBI in news
VCCircle
·
5m ago
Medial
Oyo intends to file its Draft Red Herring Prospectus (DRHP) by the first quarter of the next financial year. Meanwhile, BBC Studios is contemplating withdrawing from its Indian content business. Additionally, JSW Paints and TPG are in discussions about forming a partnership to make a bid for AkzoNobel India. These strategic business moves highlight significant shifts and negotiations within the hospitality and manufacturing sectors in India.
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For Akzo Nobel India public investors, a risk looms after JSW deal
Livemint
·
13d ago
Medial
Akzo Nobel India might face a reverse merger with unlisted JSW Paints, raising concerns for shareholders due to potential unfavorable merger ratios despite the presence of independent valuers. JSW Paints' acquisition of a 74.76% stake from the Dutch owner positions it as India's fourth largest paint company by revenue, following Indian giants like Asian Paints, Berger Paints, and Kansai Nerolac. Non-promoter shareholders of Akzo Nobel India could see varied implications from this transaction.
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Companies News Today Live Updates on February 19, 2025: AkzoNobel may sell only paints biz in India for up to $1.7 billion as Pidilite, JSW, Indigo enter second round
Livemint
·
4m ago
Medial
AkzoNobel may sell its paints business in India for approximately $1.7 billion, with companies like Pidilite, JSW, and Indigo entering the second bidding round. Stay updated on various corporate developments, including financial performances, strategic acquisitions, and significant market changes. Gain insights into mergers, acquisitions, financial outcomes, and leadership transitions that are influencing the evolving business landscape across different industries.
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Grapevine: ICICI Bank, Prudential Plc, AkzoNobel, Pidilite Industries, and JSW Paints in news
VCCircle
·
4m ago
Medial
ICICI Bank is reportedly planning to acquire an additional 3% stake in ICICI Prudential Asset Management Co. Meanwhile, AkzoNobel N.V. is exploring options to sell its consumer paints business in India while retaining its industrial coatings division, according to media reports.
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Ranjan Pai-led Manipal Group invests in online beauty products retailer Purplle
Economic Times
·
1y ago
Medial
Manipal Group, led by Ranjan Pai, has invested in Mumbai-based online beauty products retailer Purplle in a secondary transaction. The investment involved the purchase of shares from JSW Ventures. This comes after JSW Ventures partially sold its stake in Purplle to the Abu Dhabi Investment Authority in May. The startup recently closed a funding round of $40-50 million, valuing the company at $1.1 billion.
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Warburg set for over $1.1 bn India exit as conviction finally pays off
VCCircle
·
10m ago
Medial
Private equity firm Warburg Pincus is set to exit India in a deal worth over $1.1 billion, marking a successful end to its investment in the country. The firm has recently made several deals in India and has finally reaped the rewards of its consumer-facing portfolio. Warburg Pincus has sold its stake in a number of Indian companies, demonstrating its strong conviction in the market.
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Shell’s green play: Interest heats up for Sprng Energy's 1GW assets
Livemint
·
11m ago
Medial
Shell Plc is considering the sale of 1 GW of operational renewable energy assets from its Sprng Energy unit in India. The sale, which has an enterprise value of $1.1 billion, has attracted interest from global and domestic entities such as ArcelorMittal, Sembcorp Industries, CPPIB, and JSW Neo Energy. HSBC is overseeing the deal, following Shell's strategy to grow its renewables portfolio and accelerate the growth of its renewables portfolio while focusing on capital discipline. Other renewable energy companies in India, such as ReNew Energy Global, are also adopting capital recycling strategies to reinvest in new projects.
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JSW, Akzo Nobel, Wadhwa Group, Zomato, Gensol, and Dailyhunt in news
VCCircle
·
2m ago
Medial
JSW Paints, alongside a consortium of Advent International and Indigo Paints, has submitted bids to acquire Akzo Nobel India, as Akzo Nobel NV plans a global restructuring. Pidilite Industries is also involved in the acquisition race. This development follows the broader trend of company acquisitions and restructuring efforts in the global market. The outcome of these bids could significantly impact the competitive landscape in the paint industry in India.
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