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Asian Paints acquires Sri Lankan firm Causeway Paints

Causeway Paints had reported revenues of approximately Rs 253.60 crore in the previous fiscal

BS B2B Bureau  |  Mumbai 

Asian Paints acquires Sri Lankan firm Causeway Paints

Asian Ltd, through its Singapore-based indirect subsidiary Pvt Ltd (BIPL), has acquired Causeway Lanka Pvt Ltd, the Sri Lankan manufacturing company. 

Private Limited, Singapore, indirect subsidiary of the company, has entered into a share purchase agreement with the existing shareholders of Causeway Lanka Pvt Ltd (CPLPL), Sri Lanka, for acquisition of 100 percent stake in CPLPL in an all cash deal,” said Asian Ltd in a BSE filing.

The acquisition will enhance the group's presence in the Sri Lankan market where the company already operates through its subsidiary, Asian (Lanka) Limited.

CPLPL is a key player in the Sri Lankan coatings market operating for more than two decades and supplies mainly decorative (including wood finishes) and automotive refinish  

Though Asian did not disclosed the deal size, it said, CPLPL reported revenue of Sri Lankan Rupee 5,630 million (approximately Rs 253.60 crore) in the previous fiscal.

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Asian Paints acquires Sri Lankan firm Causeway Paints

Causeway Paints had reported revenues of approximately Rs 253.60 crore in the previous fiscal

Causeway Paints had reported revenues of approximately Rs 253.60 crore in the previous fiscal
Asian Ltd, through its Singapore-based indirect subsidiary Pvt Ltd (BIPL), has acquired Causeway Lanka Pvt Ltd, the Sri Lankan manufacturing company. 

Private Limited, Singapore, indirect subsidiary of the company, has entered into a share purchase agreement with the existing shareholders of Causeway Lanka Pvt Ltd (CPLPL), Sri Lanka, for acquisition of 100 percent stake in CPLPL in an all cash deal,” said Asian Ltd in a BSE filing.

The acquisition will enhance the group's presence in the Sri Lankan market where the company already operates through its subsidiary, Asian (Lanka) Limited.

CPLPL is a key player in the Sri Lankan coatings market operating for more than two decades and supplies mainly decorative (including wood finishes) and automotive refinish  

Though Asian did not disclosed the deal size, it said, CPLPL reported revenue of Sri Lankan Rupee 5,630 million (approximately Rs 253.60 crore) in the previous fiscal.
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Asian Paints acquires Sri Lankan firm Causeway Paints

Causeway Paints had reported revenues of approximately Rs 253.60 crore in the previous fiscal

Asian Ltd, through its Singapore-based indirect subsidiary Pvt Ltd (BIPL), has acquired Causeway Lanka Pvt Ltd, the Sri Lankan manufacturing company. 

Private Limited, Singapore, indirect subsidiary of the company, has entered into a share purchase agreement with the existing shareholders of Causeway Lanka Pvt Ltd (CPLPL), Sri Lanka, for acquisition of 100 percent stake in CPLPL in an all cash deal,” said Asian Ltd in a BSE filing.

The acquisition will enhance the group's presence in the Sri Lankan market where the company already operates through its subsidiary, Asian (Lanka) Limited.

CPLPL is a key player in the Sri Lankan coatings market operating for more than two decades and supplies mainly decorative (including wood finishes) and automotive refinish  

Though Asian did not disclosed the deal size, it said, CPLPL reported revenue of Sri Lankan Rupee 5,630 million (approximately Rs 253.60 crore) in the previous fiscal.

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Business Standard
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