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Kolkata, Aug 18

Berger Paints India on Monday formally acquired Bolix SA of Poland at a price of around $38.6 million. The deal was executed through a complete buy-out of Advent International, a global private equity investor, which held 100 per cent stake in unlisted Bolix. Berger acquired this external insulation and finishing system (EIFS) outfit through its Cyprus-domiciled wholly owned subsidiary. Mr K.S. Dhingra, in a note issued here, said Berger would actively support Bolix in fur thering its business in various parts of Europe, including Russia, and would also explore marketing EIFS in India.

—Our Bureau

More Stories on : Mergers & Acquisitions | Overseas Investments | Paints

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