Last month, the company had announced that its wholly-owned arm Asian Paints International Pvt Ltd, Singapore (APIPL), has entered into a share purchase agreement with Berger Paints Singapore Pte Ltd, Singapore, subsidiary of Omega Property Investments Pty Ltd, Australia, for sale of 100 per cent stake held in PT Asian Paints Indonesia (PTAPI) and PT Asian Paints Color Indonesia (PTAPCI).
APIPL on Thursday completed the divestment of the Indonesia operations by sale of the entire stake held by APIPL in PTAPI & PTAPCI for a consideration of SGD 6.8 million (about Rs 44 crore), Asian Paints said in a regulatory filing.
Asian Paints Ltd on Thursday said it has completed the divestment of its Indonesian operations to Singapore-based subsidiary of Omega Property Investments Pty Ltd, Australia, for a consideration of SGD 6.8 million (Rs 44 crore).
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