JSW Paints Buys Akzo Nobel India – ₹8,986 Cr Deal
- has entered into agreements to acquire up to a 74.76% stake in Akzo Nobel India Ltd.
- The proposed transaction hinges on approval from the Competition Commission of India.
- JSW Paints, part of the $23 billion JSW Group, is among India's fastest-growing paint companies.
JSW Paints is set to acquire a significant stake in Akzo Nobel India, a deal potentially worth up to ₹8,986 Cr. This strategic move will see JSW Paints obtain up to a 74.76% stake,pending necessary regulatory approvals adn a mandatory tender offer. This acquisition is poised to expand JSW Paints’ market role within the Indian paints and coatings sector, and it’s a pivotal development. News Directory 3 keeps you informed on breaking stories. Stay abreast of these crucial financial shifts. Discover what’s next …
JSW Paints to Acquire Akzo Nobel India Stake, Expanding Market role
Updated June 28, 2025
JSW Paints Ltd. has entered into agreements to acquire up to a 74.76% stake in Akzo Nobel India Ltd. (ANIL) from Akzo Nobel N.V. and its affiliates. The deal, structured as a share purchase agreement, could reach a maximum consideration of INR 8,986 crores, subject to closing adjustments.
The proposed transaction hinges on approval from the Competition Commission of India. It also requires the completion of a mandatory tender offer to ANIL’s public shareholders.Morgan Stanley advised JSW Paints on the financial aspects of the deal, while Khaitan & Co. provided legal counsel. Deloitte handled financial and tax due diligence.
JSW Paints, part of the $23 billion JSW Group, is among India’s fastest-growing paint companies. The JSW Group has interests in steel, cement, energy, infrastructure, and automotive sectors. ANIL is a prominent player in decorative and industrial paints in India, belonging to Akzo Nobel, a global leader headquartered in the Netherlands.
Parth Jindal, managing director of JSW Paints, emphasized the growth potential of the paints and coatings sector in India. He noted Akzo Nobel India’s portfolio of globally recognized brands, including Dulux, International, and Sikkens. Jindal said he looks forward to building a paint company that delights customers and creates value for stakeholders.
“Paints & Coatings is one of India’s fastest growing sectors and JSW Paints is amongst the fastest growing paint companies. Akzo Nobel India is home to some of the moast globally renowned brands of paints & coatings like Dulux, International and Sikkens… With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders,” Jindal said.
Greg Poux-Guillaume, CEO of AkzoNobel, called the transaction a significant step in the company’s strategy. He expressed confidence that JSW, with its local expertise and ambitions, is the right partner for the business.
“this transaction is a significant milestone in the execution of our strategy. akzonobel India has been a consistently strong performer, and 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,” Poux-Guillaume said.
What’s next
Following regulatory approvals and the tender offer, JSW Paints is poised to integrate Akzo Nobel India, further solidifying its role in the Indian paints market. The combined entity is expected to leverage the strengths of both companies to drive innovation and growth in the decorative and industrial paints segments.