Asian Paints' arm acquires additional 25.72% stake in BIL

Asian Paints’ wholly owned subsidiary - Asian Paints (International) (APIL) has acquired additional 25.72% stake in Berger International, Singapore (BIL), an indirect subsidiary of Asian Paints, through an off- market transaction. As a result, the shareholding of APIL in BIL has increased to 75.82%.

Further, APIL is eyeing to come out with a voluntary unconditional cash offer to acquire the balance 24.18% shares of BIL with an intention to make BIL a wholly owned subsidiary of APIL and delist from Singapore Exchange Securities Trading (SGX-ST). BIL is listed on the Singapore Exchange and is an indirect subsidiary of the company.

Asian Paints is India’s largest paint company and Asia’s third largest paint company. 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.