Painting a New Picture: Blackstone Joins AkzoNobel Acquisition Race

US private equity behemoth Blackstone Inc. has joined the fray to buy AkzoNobel's Indian paints business, which goes by the 'Dulux' brand. This entry raises the stakes, with other suitors such as JSW Group and Pidilite Industries. The interested parties are expected to submit non-binding bids by mid-March, with other private equity players expected to enter the fray. AkzoNobel wants to finish selling the stakes by 2025 end with holding on to 10% for €1.3 billion. The organization is concentrating on capital redeployment in its fundamental coatings businesses. Private equity giants flush with funds can increase prices, which might complicate bidding for Indian parties. 

 

Source: Business Standard, MoneyControl, MNA Critique