Akzo Nobel India: Promoters to Sell Entire Stake to JSW Paints for INR 2,762.05 per Share

Akzo Nobel India Ltd. has received an intimation from its promoter/holding entities, Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V., regarding the execution of a Share Purchase Agreement (SPA) with JSW Paints Limited. Pursuant to the SPA, the promoters have agreed to sell their entire shareholding in the company to JSW Paints, subject to certain terms and conditions. The transaction, if completed, will require JSW Paints to make an open offer in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The SPA was executed on 27 June 2025, and the per share price for the sale of shares under the SPA is INR 2,762.05, subject to adjustment. The completion of the transaction is subject to the receipt of relevant statutory approvals, including approval from the Competition Commission of India and completion of the mandatory open offer.