Asian Paints Enters into Nanotechnology Partnership
Asian Paints has announced it has entered into agreements to acquire a 51% stake in Harind Chemicals and Pharmaceuticals Private Limited from Aapex Power and Industries Private Limited, Swapan Ghosh, Ph.D., and other existing shareholders, subject to completion of the conditions precedent set in the definitive documents.
Asian Paints has also agreed to acquire a further 39% stake in Harind from the existing shareholders, in a staggered manner, over the next five years, subject to fulfillment of certain conditions precedent and achievement of financial targets.