The country''s largest paint manufacturer, Asian Paints
has decided to divest its stake in its Australian operations.
The company''s operations in Queensland are small and not
expected to make any significant impact in the company''s
company has entered into a share purchase agreement to
offload its stake in Asian Paints (Queensland) Ltd, held
by its wholly owned subsidiary, Asian Paints (International),
Mauritius. The offer is subject to due diligence and other
with Asian Paint''s revenues of Rs3,700 crore in the last
financial year, the Australian unit fetched only Rs15
the international strategy will remain to operate in that
country to serve existing markets in the region, added
competition, Asian Paints leads in 10 countries - Bahrain,
Barbados, Fiji, Jamaica, Nepal, Samoa Islands, Solomon
Islands, Tonga, Trinidad & Tobago and Vanuatu.