Acquisitions13 Nov 2025, 01:38 pm
JSW Paints to Acquire Majority Stake in Akzo Nobel India with INR 3300 Crore Debenture Financing
AI Summary
JSW Paints Limited has entered into a debenture trust deed with Axis Trustee Services Limited to raise INR 3300 crore for acquiring up to the entire shareholding of Imperial Chemical Industries Limited & Akzo Nobel Coatings International B.V. in Akzo Nobel India Limited. The acquisition is expected to be completed on the Acquisition Closing Date, following which JSW Paints will become the promoter of Akzo Nobel India.
Key Highlights
- JSW Paints to acquire majority stake in Akzo Nobel India Limited
- INR 3300 crore debenture financing through Axis Trustee Services Limited
- Acquisition to be completed on the Acquisition Closing Date
- JSW Paints to become the promoter of Akzo Nobel India upon completion of the acquisition
- Akzo Nobel India to comply with customary positive covenants as per the DTD