Akzo Nobel India jumps on report Berger Paints eyes stake

JSW Dulux

07/01/2025 08:55

** Shares of Akzo Nobel India Ltd  AKZO.NS  jump 6.4% to
3,639.20 rupees
    ** Berger Paints  BRGR.NS  looking to acquire Akzo Nobel's
74.6% stake in Indian unit, CNBC-TV18 reports, citing sources
    ** Stock was up 1.8% before the news
    ** JSW Paints, Indigo Paints  INDG.NS  also eyeing stake -
CNBC-TV18
    ** Report comes a day after AKZO said its Dutch parent
requested co to explore sale of some businesses
    ** Companies mentioned did not immediately respond to mailed
requests for comment
    ** Shares of BRGR and INDG up 0.9% and 1.5%, respectively;
AKZO's Amsterdam-listed parent Akzo Nobel NV  AKZO.AS  rises
0.9%
    ** AKZO's market valuation is 164.25 billion rupees ($1.9
billion) while BRGR's is 3x 
    ** Analysts on avg rate AKZO, INDG "buy", BRGR "hold" - data
compiled by LSEG 
    ** AKZO is down 5% since first reports in October of
interest in co

($1 = 85.6830 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))