Akzo Nobel India gains after report names cos in race to buy stake

JSW Dulux

18/12/2024 09:36

** Akzo Nobel India  AKZO.NS  gains as much as 8.6% to 3768
rupees
    ** Pidilite Industries  PIDI.NS , JSW Paints and Indigo
Paints  INDG.NS  in race for stake in Amsterdam-based Akzo
Nobel's  AKZO.AS  Indian arm, Mint reports
    ** Deal to sell 74.6% stake values Indian arm at $2.1
bln-$2.5 bln, report adds
    ** Stock sees biggest pct gain since Oct. 31, day after Mint
 reported AKZO is looking to sell its Indian unit
    ** More than 137,000 shares traded, 6.5x the 30-day avg
    ** AKZO India last up 7.5%, extends YTD gains to ~43%

($1 = 84.9220 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))