• Bloomberg

  • SHARE

Nippon Paint Holdings Co., Japan’s biggest paint maker, struck a ¥1.29 trillion ($12.2 billion) deal to join with Singapore-based Wuthelam Holdings Pte, seeking to create a dominant paints and coatings company in Asia.

The deal involves Wuthelam taking a majority stake by buying new shares in Nippon Paint, which will use the bulk of the money to buy out their joint ventures in China, India, Malaysia, Singapore, South Korea and Thailand. Nippon Paint will also buy out Wuthelam’s 100 percent-owned Indonesia business for about $2 billion (¥211 billion).

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)