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News Details

Asian Paints’ arm transfers 54.07% stake to Berger

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20/01/2016 08:45
Leading paint company, Asian Paints has said that Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the company has transferred its entire holding of 54.07 per cent held in the subsidiary company, Asian Paints (South Pacific) Limited, Fiji, to Berger International Private Limited, Singapore, a wholly owned subsidiary of APIL. “As part of the Company’s plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 54.07 per cent held in the subsidiary company, Asian Paints (South Pacific) Limited, Fiji, to Berger International Private Limited, Singapore, a wholly owned subsidiary of APIL,” the company informed in a filing to the Bombay Stock Exchange. Asian Paints is one of the largest Indian paint company & manufacturer, offering a wide range of painting & waterproofing solutions for homes, offices & more. Meanwhile, shares of the company were trading at Rs 843.20 apiece, down 0.87 per cent from the previous close at 09:57 hours on BSE.