Mega M&A deal at USD 12.2 billion

Mega M&A deal at USD12.2 billion between Nippon Paint and Wuthelam.

Nippon Paint Holdings (NPHD), which is the largest Japanese paint manufacturer and ranked number 4 in the world, announced on 21 August 2020 that they agreed with Wuthelam from Singapore, which owns 39.6% of shares of NPHD, to increase NPHD’s stake in Asia JVs to 100% as well as to acquire Wuthelam’s Indonesia business. In exchange for this acquisition, 19.1% of NPHD will be issued to Wuthelam through third-party allotment and it follows that the shares of NPHD held by Wuthelam will increase from 39.6% to 58.7%. Total purchase price will be ¥1,285.1 billion (USD12.2 billion). Closing scheduled for 1 January 2021.