Nippon Paint to buy Singapore's Wuthelam assets for $16.67b

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No As part of the deal, Nippon Paint will sell $15.37 (JPY1.19t) worth of shares to Wuthelam. Nippon Paint Holdings on 21 August said it inked a deal worth $16.67b (JPY1.29t) with Singaporean paint manufacturer Wuthelam Group, whose stake in the Japanese company will rise to just under 60% from 39%. Following the announcement of one of the biggest transactions in Asia this year, shares of Nippon Paint closed up 6.5% in a near-flat broader market. As part of the deal, Nippon Paint will sell $15.37b (JPY1.19t) worth of shares to Wuthelam. read more