Kansai Nerolac Paints to acquire majority stake in RAK Paints, Bangladesh

Kansai Nerolac Paints has entered into Share Purchase Agreement (SPA) to acquire 55% of the paid-up equity share capital of RAK Paints, Bangladesh as on the Closing Date ( i.e. the day on which the transaction would be consummated) for a total consideration of Bangladeshi Taka (BDT) 57.26 crore (approximately Rs 45.81 crore). This is subject to adjustments for borrowings, working capital and fixed assets as at the Closing Date.

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