The Dutch firm is eyeing an all-cash deal valuing its listed Indian arm at $2.5-3 billion, which would make it the largest ever in India's paints and coatings sector. JSW Group, Adani Group, Aditya Birla Group and Asian Paints Ltd have been approached for acquiring AkzoNobel India Ltd, said two persons familiar with the development, speaking on the condition of anonymity.
AkzoNobel's promoters have appointed Citigroup Global Markets as the investment banker to shortlist an appropriate buyer for AkzoNobel India Ltd, which currently has a market capitalization of $2.1 billion.
Amsterdam-headquartered AkzoNobel, which is also the world's largest coatings company, has been doing business in India under various other names since 1954.
"The deal is likely to be agreed upon at around ₹25,000 crore. The buyers are keen to pay a premium to the market price," said one of the two persons mentioned above, adding that requests for proposal (RFPs) for the deal will be sent to the potential bidders in about a month.
Diese Geschichte stammt aus der October 31, 2024-Ausgabe von Mint Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 31, 2024-Ausgabe von Mint Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
Aim for an efficient carbon market right from the start
India's economy is projected to grow dramatically over the next few decades. In nominal terms, it may double in size by 2030. This is exciting, but it comes with a significant risk.
Why health insurers refuse to cover certain treatments
While 12 modern treatments are covered, many advanced procedures are yet to be included
Address economic distress with structural reforms and not doles
Cash transfers may offer short-term relief but raising worker incomes is the only lasting solution
FUNDING FOREIGN EDUCATION: SHOULD YOU SAVE OR BORROW?
Education financing needs vary, but early planning is key to building your desired corpus
