Nippon Paint has made multiple offers for AkzoNobel’s decorative paints business in the past month, including a proposal valuing the unit at €7.5 billion ($8.55 billion) last week, Bloomberg News reported on Sunday, citing people familiar with the matter. Nippon Paint had previously sought to buy AkzoNobel’s entire business along with U.S.-based Sherwin-Williams for €12.5 … Read more
Pirojsha Godrej is taking control of the Godrej Industries group. He will succeed Nadir Godrej as Chairperson of the Godrej Industries Group and Godrej Industries Limited, effective August 14, 2026. Pirojsha will also continue to serve as Chairperson of Godrej Properties, Godrej Capital, and Godrej Ventures. With this change, there is general expectation of an aggressive growth … Read more
It was known that Boob family is expected to sell 24% stake of the Company. In the last conference call this was discussed and management (Sikchi family) had informed that it was due to Boob family’s estate planning and not any operational concerns. Sikchi family had also committed that they are not looking to sell … Read more
Sirca has announced acquisition of the entire business under the brand name “Wembley” from Wembley Paints & Chemicals and Indo Wembley Paints Private Limited. It’s not acquisition of an entity but only the brand, it’s clients and identified employees. No manufacturing facility acquisition is involved. Consideration for acquisition is Rs 8.15 cr. With this acquisition, … Read more
Kansai Paint Co Ltd. the parent held a India strategy briefing. Key highlights included – Given the increasing competitive pressures in the decorative paints market, the Indian business to sharpen its focus on the industrial paints segment to drive growth. The goal: to become India’s second-largest coatings company by 2030. It aims to maintain its … Read more
The veteran Anuj Jain and the Company (KNPL) have mutually decided that Mr. Jain will take early retirement from the services of the Company at the close of business on 31st March, 2025. He is being replaced with Mr. Pravin Chaudhari, another experienced veteran. Mr. Chaudhari has over 30 years of experience building B2C and … Read more
This is further to the ongoing consolidation/ restructuring at Akzo Global. The Indian entity has been in the market to sell its decorative paints business. Now, it’s selling the power coatings business and the R&D centre to the Netherlands-based parent entity. Akzo Nobel N.V. (the parent) will be paying Rs 2,073 crore and Rs 70 … Read more
Pidilite, Indigo Paints and JSW Paints are speculated to be interested in 74.76% stake of Akzo Nobel in it’s Indian subsidiary. Talks with Adani and Aditya Birla Group didn’t proceed much. Valuations are expected to be $2.1-2.5 bn (Rs 18,000 – 21,000 cr against the current mcap of Rs 17,000 cr). Key draw is Akzo’s … Read more