The Competition Commission of India (CCI) has approved the acquisition of up to 75 per cent shareholding in Akzo Nobel India Limited (the Target) by JSW Paints Limited (the Acquirer).

The proposed transaction involves the acquisition through a share purchase agreement and a mandatory open offer, collectively referred to as the Proposed Combination.

JSW Paints is a public unlisted company engaged in the manufacture and sale of decorative paints and industrial coatings in India. It is part of the JSW Group, which operates across sectors including steel, energy, infrastructure, cement, paints, realty, and sports.

Akzo Nobel India is a publicly listed company that also manufactures and sells decorative paints and industrial coatings in India and is part of the global Akzo Nobel Group.

A detailed order from the Commission will be issued in due course.

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