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Japan paint maker takes over Sadolin Group for Sh10bn
Kansai Plascon East Africa president Gary Van Der Merwe (left), Sadolin MD Jamil Virjee (centre) and Kansai Plascon East Africa MD Wim Bramer in Nairobi on August 23, 2017. PHOTO | DIANA NGILA | NMG
Listed Japanese paint and coating manufacturer Kansai Paints has acquired a 90 per cent stake in Sadolin Group for $100 million (Sh10.3 billion). The regional acquisition leaves local shareholders holding the balance of shares.
The Tokyo Stock Exchange-listed company’s South African subsidiary, Kansai Plascon, on Tuesday said the acquisition includes Rwanda, Tanzania, Uganda and Kenya operations.
