Other Deals - Listed Firms
Imperial Chemical Industries sells 9% stake in paints seller AkzoNobel India for Rs.1,296-Cr
Imperial Chemical Industries, a former promoter of Gurugram-based paints manufacturer AkzoNobel India , has sold a 9% stake in the company for INR 1,296.09 crore through an open market transaction. The sale involved over 40.97 lakh shares at an average price of INR 3,163.50 per share.Goldman Sachs Asset Management, via its affiliate Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, purchased over 3.35 lakh shares, or a 0.74% stake, for INR 105.67 crore at an average price of INR 3,150 per piece, increasing its holding to 1.79% from 1.05%.Founded in 1954, Akzo Nobel India sells decorative paints, performance coatings and specialty chemicals, serving homeowners, institutions and industrial users.
For FY24, Akzo Nobel had reported about INR 3,962 Cr in Operating Income and about INR 427 Cr in PAT.
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