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17 December, 2018 11:41 IST
Asian Paints' arm inks pact to acquire 100% stake in CPLPL
Source: IRIS | 16 Feb, 2017, 12.28PM
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Asian Paints announced that Berger International Private (BIPL), Singapore, indirect subsidiary of the Company, has entered into a Share Purchase Agreement with the existing shareholders of Causeway Paints Lanka (Private) (CPLPL), Sri Lanka, for acquisition of 100% stake in CPLPL in an all cash deal (transaction).

The aforesaid transaction is with an objective of enhancing the group's presence in the Sri Lankan market where the Company through its subsidiary Company, Asian Paints (Q,N,C,F)* (Lanka), already has operations.

Shares of the company declined Rs 0.9, or 0.09%, to trade at Rs 980.45. The total volume of shares traded was 24,980 at the BSE (12.15 p.m., Thursday).

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