CCI Approves JSW Paints' Acquisition of

AKZOINDIA

Regulatory Approval: The Competition Commission of India (CCI), a fair trade regulator, has approved Sajjan Jindal-led JSW Paints' plan to acquire a majority stake in

. This decision was announced on Tuesday, giving the green light for one of the largest deals in the Indian paints industry. Deal Specifics: JSW Paints will acquire a 74.76% stake in Akzo Nobel India for approximately ₹8,986 crore. This initial acquisition will be followed by a public open offer to buy an additional 25% stake from the open market for up to ₹3,929.06 crore. The total deal value is estimated to be over ₹12,915 crore. Strategic Market Impact: Upon completion, this acquisition will elevate JSW Paints to the position of the fourth-largest player in the Indian paint industry. JSW Paints, which entered the segment in 2019 as part of the diversified JSW Group, aims to significantly expand its market presence. Business Segments Retained by Akzo Nobel: The parent company, Akzo Nobel NV, has clarified that it will retain full ownership of two key business units currently under Akzo Nobel India: the India Powder Coatings business and the International Research Centre. These segments are not part of the acquisition deal. Financial Context: Akzo Nobel India reported a revenue of ₹4,091.21 crore in the fiscal year 2025. The deal, which requires regulatory approval due to its scale, will help JSW Group to bolster its footprint in the decorative and industrial paints sectors, leveraging the existing operations and market presence of Akzo Nobel India.