National Paints acquires Pachin

Dubai-based National Paints Holding Limited acquired the remaining shares of Paint and Chemicals Industries (Pachin) for 9.21 million Egyptian pounds, according to the Egyptian Exchange stated on Tuesday.

The company acquired 231,554 shares in Pachin, the EGX-listed company, at a nominal value of 39.80 pounds per share, according to a bourse filing.

Worth mentioning that the transaction was completed on Monday, EGX statement mentioned.

In May, National Paints bought 19.35 million shares in Pachin for 770.45 million pounds.