New Delhi:  Asian Paints will acquire 51 per cent stake in Ethiopia-based Kadisco Paint through its Singapore-based subsidiary Berger International for an undisclosed sum.  Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia, Asian Paints informed the BSE.  The consideration for the acquisition will be disclosed on closing and completion of the transaction, it said.  Asian Paints reported a consolidated net profit of Rs 347.30 crore on the back of net sales of Rs 3,586.75 crore for the second quarter ended September 30, 2014. Asian Paints MD and Chief Executive Officer KBS Anand said: “Double digit volume growth was witnessed across regions in the decorative paint segment… The international business was led by good growth in markets like Bangladesh, Nepal and Oman.”

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