Mumbai: Paint major Berger International Ltd
today said it will sell its entire stake in Berger Paints
(Hong Kong) for 17 lakh Singapore dollars.
The company has entered into a conditional share-purchase
agreement with China Oceanic Ltd for selling its stake in the
Berger Paints (Hong Kong), Asian Paints, the majority
stakeholder in Berger International, said in a filing to the
Bombay Stock Exchange (BSE).
Under the agreement, the company will sell 1.70 lakh
shares of Berger Paints (Hong Kong) at a price of 10 Hong Kong
dollars a piece, it said.
Shares of Asian Paints today closed at Rs 1,360, down
0.75 per cent on the BSE.
Bureau Report
First Published: Friday, September 11, 2009, 22:41