Asian Paints gets approval for composite scheme of arrangement

07 Jul 2012 Evaluate

Asian Paints has received an approval for the composite scheme of arrangement for merger and demerger from Bombay High Court vide its order dated July 06, 2012. The scheme envisages merger of PPG Coatings India, a subsidiary of PPG in India and AP Coatings, a wholly owned subsidiary of the company with Asian PPG Industries (APPG), the existing joint venture between Asian Paints Group and PPG Group.

Besides, the scheme then provides for the demerger of the Liquid Industrial Paints, Powder Coatings and Protective Coatings businesses from APPG into Asian Paints PPG, a second joint venture company.

Asian Paints is India’s largest paint company and Asia’s third largest paint company with an annual turnover of Rs 5,463 crore. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

Asian Paints Share Price

2283.05 -9.85 (-0.43%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Asian Paints 2283.05
Berger Paints India 444.80
Kansai Nerolac Paint 262.35
Akzo Nobel India 3590.65
Indigo Paints 1408.80
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