Dulux-parent Akzo Nobel exits India with $1.1 billion asset sale to JSW Paints (updated)

JSW Dulux

27/06/2025 05:07

Removes incorrect reference to Akzo Nobel exiting India in headline and paragraph 1

June 27 (Reuters) - Akzo Nobel AKZO.AS will sell its entire stake in its Indian unit to JSW Paints, which will assume sole control of the firm in a deal valued at 89.86 billion rupees ($1.05 billion), the companies said on Friday.

JSW Paints, part of the $23 billion JSW Group, will hold a 74.76% stake in Akzo Nobel India post the deal. The deal also includes an up to 4.47 billion rupees in contingent consideration.

JSW Paints was launched in 2019 and has two plants in India.

The deal is subject to approval from the Indian antitrust regulator, Competition Commission of India.

($1 = 85.4925 Indian rupees)

 (Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala and Vijay Kishore)

 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))