Asian Paints, the largest paint manufacturing company, announced that its overseas Mauritius subsidiary has transferred the entire stake in two entities to Berger International, Singapore.
The transfer of stake to Berger International is part of Asian Paints’ plan to consolidate its investments in the overseas subsidiaries.
''Asian Paints (International), Mauritius, a wholly owned subsidiary of the company has transferred its entire holding of 80% held in the subsidiary company viz., Samoa Paints, Samoa and 75% holding in the subsidiary company viz., Asian Paints (S.I.), Solomon Islands, to Berger International , Singapore, a wholly owned subsidiary of APIL,'' the company said.
Shares of the company declined Rs 0.15, or 0.02%, to trade at Rs 827.20 at the BSE (1.01 p.m., Thursday).