Business EconomyPosted at: Jun 28 2025 8:13PM


JSW Paints acquires Akzo Nobel India's paint business for Rs 12,915 Cr

Mumbai, June 28 (UNI) JSW Paints has officially announced that it will acquire Akzo Nobel's India paint business in a Rs 12,915 crore transaction which was executed with support from Morgan Stanley as the exclusive financial adviser to JSW Paints.
Khaitan & Company provided legal advisory services, while Deloitte conducted financial and tax due diligence to execute the deal.
According to a company press release, JSW Paints will acquire a 74.76 percent stake in Akzo Nobel India which makes Dulux brand of paints for Rs 8,986 crore, which will be followed by an open market offer to an additional 25 percent stake valued at Rs 3,929.06 crore.
"JSW Paints entered into definitive agreements to acquire up to 74.76 percent stake in Akzo Nobel India from Akzo Nobel NV and its affiliates, for a maximum consideration under the share purchase agreement of up to Rs 8,986 crore," according to a company press release here today.
JSW Paints Managing Director Parth Jindal said, "Paints is one of India's fastest growing sectors. JSW Paints is among the fastest growing paint companies. Akzo Nobel India is home to some of the most globally renowned brands of paints and coatings like Dulux, International and Sikkens. We are delighted to incorporate them into the JSW family. In collaboration with the Akzo Nobel India team, including staff, clients and associates, we aim to establish the next generation paint organisation."
AkzoNobel CEO Greg Poux-Guillaume said, "This transaction is a significant milestone in the execution of our strategy. AkzoNobel India has consistently been a strong performer. We are proud of the brand and talent that have made it a success. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector."
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