Asian Paints Owns 90.44% in Berger International
In August 2013, Asian Paints informed about the acquisition of additional shares of Berger International Ltd (BIL), Singapore by APIL, Mauritius. Asian Paints (International) Ltd (APIL) said that it owns and holds approximately 90.44 per cent shares of Berger International Ltd, Singapore — indirect subsidiary of Asian Paints Ltd. In August 2013, Asian Paints had informed about the acquisition of additional shares and voluntary unconditional cash offer for the remaining shares of Berger International Ltd (BIL), Singapore by APIL, Mauritius, a wholly owned subsidiary of the Company. Further APIL had also announced their intention to acquire the balance 24.18% shares of BIL with an intention to make BIL a wholly owned subsidiary of APIL and delist from the Singapore Exchange Securities Trading Limited (“SGX-ST”), The Closing date for the said offer is October 09, 2013 at 5.30 pm (Singapore time) or such later date(s) as may be announced fom time to time by APIL. The announcement has already been made on the Singapore Exchange Ltd by BIL. Further, BIL has no operations in India.