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JSW Paints Limited signed definitive agreements to acquire up to 74.76% stake in Akzo Nobel India Limited from Akzo Nobel N.V. for a maximum consideration of up to INR 8,986 crores, subject to regulatory approvals and a mandatory tender offer.
Akzo Nobel India signed a definitive agreement to divest its speciality chemicals business to Akzo Nobel Chemicals India Pvt Ltd for Rs 320 crore. The transaction is expected to complete by March 31, 2018.