Asian Paints to buy 51% stake in Ethiopia-based Kadisco Chemical

  • PDF

Addis Ababa, 15 April 2014 (WIC) - Asian Paints (International) Ltd (APIL), a wholly owned subsidiary of India’s largest paints company Asian Paints Ltd, has agreed to buy 51 per cent equity stake in Ethiopia-based Kadisco Chemical Industry Plc for an undisclosed amount, according to a stock market disclosure.

Asian Paints (International) has signed an agreement with the shareholders of Kadisco to acquire either directly or through its subsidiaries, 51 per cent stake of the equity share capital of Kadisco, the disclosure said. Kadisco manufactures and sells paints, other coatings and adhesives in Ethiopia.

In February this year, Asian Paints had hiked its stake in Singapore-headquartered Berger International Ltd (BIL), an investment holding company which manufactures, distributes and sells paint and related products in Bahrain, The United Arab Emirates, Jamaica, Trinidad and Barbados, to around 96.7 per cent.

Visitors Counter

mod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_counter
mod_vvisit_counterToday7573
mod_vvisit_counterYesterday25796
mod_vvisit_counterThis week160970
mod_vvisit_counterLast week208463
mod_vvisit_counterThis month627758
mod_vvisit_counterLast month1147369
mod_vvisit_counterAll days( since may 28, 2013)14181217

We have: 232 guests, 71 bots online
No: 54.227.11.45
 , 
Today: Aug 23, 2014