Breaking News

You are here » Indian-Commodity  :  Corporate  :  Asian Paints' arm concludes divestment of its stake in LBOH

26-Jul2017

Asian Paints' arm concludes divestment of its stake in LBOH

Asian Paints' indirect subsidiary Berger International (BIPL), Singapore, has completed the divestment of its stake in LBOH on July 24, 2017 and thereby from the three units operating in the Caribbean region for a consideration of $29.37 million (Rs 189.16 crore at current exchange).

Earlier, BIPL had entered into a share purchase agreement (SPA) with the ANSA Coatings International, St. Lucia (ANSA Coatings) for divestment of its entire stake in Lewis Berger (Overseas Holdings), UK (LBOH), wholly owned subsidiary of BIPL, which in turn holds 100 percent stake in Berger Paints Barbados, 51 percent stake in Berger Paints Jamaica and 70 percent stake in Berger Paints Trinidad.

Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.



Related News

View all news

ABB India undertakes an ambitious project to create a high density DFC

ABB India has undertaking an ambitious project to create a high density Dedicated Freight Corridor (DFC). The DFC will run between the four cities known as the Golden Quadrilateral - Delhi, Mumbai, Chennai......

NHPC to develop 40 MW solar plant in Odisha: Report

Hydropower generation company NHPC is reportedly planning to develop 40 MW solar plant in Odisha with an investment of about Rs 196 crore. The solar power project will come up on about 180 acres of land......

Tijaria Polypipes bags order worth Rs 35.30 crore

Tijaria Polypipes has received a single order of Rs 35.30 crore for supply of HDPE & PLB Ducts from Tata Projects. The same has to be executed within a period of 3 months. The company takes great......

Top News

View all news

ABB India undertakes an ambitious project to create a high density DFC

ABB India has undertaking an ambitious project to create a high density Dedicated Freight Corridor (DFC). The DFC will run between the four cities known as the Golden Quadrilateral - Delhi, Mumbai, Chennai......

NHPC to develop 40 MW solar plant in Odisha: Report

Hydropower generation company NHPC is reportedly planning to develop 40 MW solar plant in Odisha with an investment of about Rs 196 crore. The solar power project will come up on about 180 acres of land......

Tijaria Polypipes bags order worth Rs 35.30 crore

Tijaria Polypipes has received a single order of Rs 35.30 crore for supply of HDPE & PLB Ducts from Tata Projects. The same has to be executed within a period of 3 months. The company takes great......