Berger Paints to acquire Bolix shares for $38.6 mn

New Delhi, Apr 29: Berger Paints India Ltd today said it has signed an agreement to acquire all shares of Bolix SA (Bolix) from Advent International, a global private equity group at an estimated net purchase price of around 38.6 million dollars.

The acquisition will be made through a wholly owned subsidiary of Berger Paints India Ltd in Cyprus, a company statement said. The purchase is conditional upon fulfillment of certain conditions precedent, including clearance by the Polish Anti-Monopoly Office. However, price is subject to usual adjustments at the time of completion of the transaction. Ernst and Young Private Limited, India are the financial advisors to Berger on the transaction.

UNI