Akzo Nobel India Limited — Board Meeting, 27-06-2025: Outcome of Board Meeting

Akzo Nobel India has announced a board meeting on the execution of a Share Purchase Agreement (SPA) where its promoters, Imperial Chemical Industries Limited (50.46% stake) and Akzo Nobel Coatings International B.V. (24.30% stake), agreed to sell up to their entire shareholding to JSW Paints. The transaction values shares at INR 2,762.05 each, subject to adjustments. Post completion of the mandatory open offer and regulatory approvals, JSW may hold up to 75% of the company and will become the sole promoter, leading to a change in control. Akzo Nobel N.V. will also enter corporate licensing agreements with the company before closing.