Asian Paints transfers holdings to Berger International Ltd

NEW DELHI: Asian Paints (International) Ltd has transferred the entire holding in its subsidiaries to Berger International Limited, Singapore to consolidate investments of the company in overseas subsidiaries.

Asian Paints (International) has transferred its entire holding of Asian Paints (Middle East) and Asian Paints (Tonga) to Berger International, Asian Paints today said in a BSE filing.

"... as part of the company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Ltd, Mauritius, a wholly-owned subsidiary of the company has transferred its entire holding of 49 per cent held in the subsidiary company viz. Asian Paints (Middle East) LLC and 100 per cent of holding in the subsidiary company viz. Asian Paints (Tonga) Limited to Berger International Limited, Singapore," the filing said.

Asian Paints shares today settled 3 per cent up at Rs 838.95 apiece on the BSE.