Asian Paints acquires Sri Lankan firm Causeway Paints

Causeway Paints had reported revenues of approximately Rs 253.60 crore in the previous fiscal

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BS B2B Bureau Mumbai

Last Updated : Feb 16 2017 | 3:56 PM IST

Asian Paints Ltd, through its Singapore-based indirect subsidiary Berger International Pvt Ltd (BIPL), has acquired Causeway Paints Lanka Pvt Ltd, the Sri Lankan paints manufacturing company.

“Berger International Private Limited, Singapore, indirect subsidiary of the company, has entered into a share purchase agreement with the existing shareholders of Causeway Paints Lanka Pvt Ltd (CPLPL), Sri Lanka, for acquisition of 100 percent stake in CPLPL in an all cash deal,” said Asian Paints Ltd in a BSE filing.

The acquisition will enhance the group's presence in the Sri Lankan market where the company already operates through its subsidiary, Asian Paints (Lanka) Limited.

CPLPL is

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