JSW Paints has acquired 74.76 per cent stake in Akzo Nobel India

JSW Paints has signed a definitive agreement to acquire a 74.76 per cent stake in Akzo Nobel India Limited (ANIL) for Rs 89.86 billion. The deal value is subject to some closing adjustments. The transaction is subject to approval from the Competition Commission of India (CCI). Post the deal, JSW will be required to make an open offer for to further 26 per cent stake in the company.