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Asian Paints to acquire majority stake in Ethiopia’s Kadisco Chemical

8:19 AM MDT | April 21, 2014 | Deepti Ramesh

India’s largest paints company Asian Paints (Mumbai) has informed the Bombay Stock Exchange (Mumbai) that it has signed an agreement with the shareholders of Kadisco Chemical Industry PLC (Addis Ababa), to acquire a 51% stake in Kadisco. This company manufactures and sells paints, coatings, and adhesives in Ethiopia. The purchase price and other details of the deal have not been disclosed. The acquisition is subject to applicable regulatory and other approvals, Asian Paints...

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