Market analysis

摘要

A quiet week for announcements as M&A activity centered around a handful of deals where companies increased or decreased existing holdings. Wuthelam Group (Singapore) will become the majority owner of Nippon Paint by spending ￥1.28 trillion ($12.1 billion) to raise its stake to 60% from 39% in the week’s most notable deal. Under the terms of the agreement, Nippon Paint will use the funds to acquire full ownership of joint ventures (JVs) in China, India, Malaysia, Singapore, South Korea, and Thailand for about $10 billion. Nippon Paint will also purchase Wuthelam’s business in Indonesia for about $2 billion. Nippon Paint projects the transaction to be completed in January 2021. Nippon Paint started collaborating with Wuthelam Group in 1962 by appointing Wuthelam as its Asian sales agent and establishing a JV in Singapore to expand its paint business in the Asia region.