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ASIAN PAINTS LTD. - Updates
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10 Feb 2015
With reference to the earlier letter dated October 22, 2014, wherein the Company had informed that Berger International Limited, Singapore (BIL&quot;), an indirect subsidiary of the Company, had signed a Share Purchase Agreement and other definitive agreements and documents to acquire 51% stake in Kadisco Paint and Adhesive Industry Share Company, Ethiopia (Kadisco&quot;) (the Acquisition).&lt;BR&gt;&lt;BR&gt;Asian Paints Ltd has now informed BSE that BIL has completed the aforesaid Acquisition for a consideration of US$ 18.95 million (appx. Rs. 117.6 crores) in cash. Certain regulatory approvals are pending from the governing authorities in Ethiopia in relation to the said Acquisition.&lt;BR&gt;&lt;BR&gt;Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia.
View all announcements for ASIAN PAINTS LTD. Source: BSE India