Nippon Paint Holdings Co., Ltd. (“NPHD”) is announcing that they have decided to acquire 75 percent of the share capital of Alina Group LLP (“Alina”), a Kazakhstan-based manufacturer and seller of dry-mix mortars, paint and coatings, etc., through their consolidated subsidiary Nippon Paint Holdings SG Pte. Ltd. (“NPHDSG”) (the “Acquisition”). They have entered into a share purchase agreement (the “Share Purchase Agreement”).

Concurrently with the signing of the Share Purchase Agreement, they have entered into a put and call option agreement that entitles NPHDSG to purchase the remaining 25% of the share capital of Alina in three years, or earlier upon agreement with the seller.

The Board of Directors of NPHD decided during its meeting held on August 10, 2023, to entrust the decision-making on the signing of the Share Purchase Agreement to the Representative Executive Officers & Co-Presidents. Since all conditions have been met, they have decided to formerly conclude the Share Purchase Agreement on November 11, 2023.

The acquired firm Alina operates in four countries in Central Asia, centered on Kazakhstan, and has the leading position in the dry-mix mortar market, which is the construction chemicals market segment in Kazakhstan, as well as in the paint and coatings market.

Source: Nippon paint