Daily Updates News JSW Paints Ltd, a rapidly growing Indian paint manufacturer, has entered into a definitive agreement to acquire a majority stake of up to 74.76% in Akzo Nobel India Ltd (ANIL) for a maximum value of ₹8,986 crore, as per a stock exchange filing dated June 27. The stake will be purchased from Akzo Nobel N.V. and its affiliates, subject to customary closing conditions and regulatory approvals.
The proposed transaction is pending clearance from the Competition Commission of India (CCI) and will also include a mandatory open offer to public shareholders as per SEBI guidelines.JSW Paints’ acquisition of AkzoNobel India marks a strategic move to expand its presence in India’s high-growth paints and coatings sector. The Dutch parent company, Akzo Nobel, is known globally for brands like Dulux, Sikkens, and International Paints.
According to sources, Moneycontrol was the first to report on both the exclusivity agreement in May and the final signing on June 26. Other contenders in the deal included Advent International with Indigo Paints and Pidilite Industries.Parth Jindal, Managing Director of JSW Paints, expressed optimism about the collaboration:
AkzoNobel CEO Greg Poux-Guillaume described the move as a strategic milestone and expressed confidence in JSW’s long-term vision and local expertise.
Advisors for the deal included Morgan Stanley (financial advisor to JSW), Khaitan & Co. (legal advisor), Deloitte (due diligence), and Citi for AkzoNobel.
This acquisition strengthens JSW Paints’ market position and may reshape the competitive landscape of India’s paint industry.
