Berger Paints shines on overseas acquisition

DALAL STREET SPIKES

Berger Paints India, the second largest producer of paint in the country, rose 4.49 per cent to close at Rs 41.85 after it acquired Bolix from Advent International, a global private equity group. The company made the announcement after market hours on August 18 (Monday).

Bolix is a leading provider of external insulation finishing systems (in the business-to-business segment) in Poland, with an annual turnover of $ 45.5 million in 2007. The stock made an intraday high/low of Rs 45.5 / Rs 41.55. The total quantity traded was 2,69,171 shares.