Berger Paints new joint venture partner of Hesse Shares
Berger Paints acquires 51 % of the shares in the joint venture Saboo Hesse Wood Coatings, founded jointly with Hesse Shares GmbH.
The Board of Berger Paints has granted its approval for the acquisition of 51 % stake in jont venture Saboo Hesse Wood Coatings. “The acquisition is subject to limited due diligence and approval of the Reserve Bank of India, if required,” the company said.
New partnership for Hesse Shares
Meanwhile, the balance of 49 % in Saboo Hesse Wood Coatings is held by Hesse Shares GmbH of Germany. Berger Paints India Ltd’s share price is currently at EUR 3,82, down EUR 0,027, or 0.7%, from its previous close of EUR 3,85 on the Bombay Stock Exchange (BSE).
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