AKZO Nobel India is in the process of winning over the financial institutions which had opposed its proposal of merging three unlisted group companies with itself over issues such as valuation and royalty payments. The court convened meeting held recently in Kolkata of Akzo Nobel India -the maker of Dulux paints, witnessed a 'spirited debate' from shareholders ranged for and against the merger of the three unlisted entities with the Indian listed subsidiary. The proposal was put to vote and the results will be announced in 48 hours.
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