Dainippon Ink and Chemicals (DIC) of Japan is all set to acquire a controlling stake in Coates of India through a multi-layered deal involving its wholly-owned subsidiary Sun Chemicals.
Sun Chem Group BV of The Netehrlands is acquiring 51 per cent shares in the Indian company from Coates Brothers Plc at an average price of 1.7143 pounds (Rs 119.57) per share. As the 51 per cent stake works out to 35,11,624 shares, the total size of the deal works out to Rs 41.98 crore.
The deal will take Sun Chem
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