Pursuant to Regulation 30 and other applicable provisions of the Listing Regulations, this is to inform you that the Company and the PPG Group, USA have, today, executed Supplementary Joint Venture Agreements to the Original Joint Venture Agreements, inter alia, extending the partnership for a further 15-year period. Details of the same are available in enclosed communication.
ASIANPAINT · price
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Awaiting price reaction for this filing.
Asian Paints has signed supplementary agreements with PPG Group, USA, extending its two existing 50:50 joint ventures for another 15 years (effective 2026 through 2041). The original partnership began in 1997 with PPG Asian Paints Pvt Ltd (PPGAP) for automotive, refinish, marine and packaging coatings, and was expanded in 2012 with Asian Paints PPG Pvt Ltd (APPPG) for protective and powder coatings. The 50:50 shareholding remains unchanged, and management control of each JV stays with the same partner (PPG for PPGAP, Asian Paints for APPPG). The company clarified there is no material impact on its operations, management, or control, and no related-party transaction issues arise.
Positive signal of stability and long-term commitment in the industrial coatings segment, but neutral for near-term financials since ownership and control terms remain unchanged and the company confirms no material impact on its business.