JSW Agrees to Buy Akzo Nobel India Unit in $1.6 Billion Deal
By and Sanjai P R
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JSW Group agreed to buy up to 75% of Akzo Nobel NV 's Indian business as the Indian conglomerate seeks to expand its presence in areas such as paints.
The deal is valued at about €1.4 billion ($1.6 billion) including debt, according to a statement on Friday. The transaction, which is expected to close in the fourth quarter, will generate about €900 million in net cash proceeds for the Amsterdam-based company.
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