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Ethiopia: Asian Paints’ Subsidiary Bought 51 % of Kadisco Paints

bergerAsian Paints is acquired a 51 percent share in the Ethiopian Kadisco Paints via its Singapore-based subsidiary Berger International.

Berger is said to have concluded a share purchase contract on Wednesday, October 22, 2014, and other definitive agreements along with other documents for the acquisition of the 51 percent share.

Kadisco is a paint manufacturer in Ethiopia engaged in the manufacture and sell of different decorative paints, industrial paints, automotive paints, other coatings and adhesives.

It was back in Monday, April 14, 2014, Asian Paints Limited (International), signed an agreement with Kadisco and Adhesive Industry Share Company, to acquire 51 percent of Kadisco’s share directly or indirectly through Asian’s subsidiaries.

Source: Economic Times