Kolkata-based Berger Paints India Ltd will acquire 95.53 per cent of STP Ltd (STPL), which is primarily into waterproofing and protective coatings, at a cash consideration of Rs 167.5 crore. The acquisition is likely to be completed by November 30. The acquisition will help Berger complement its existing businesses, “where the two entities can combine their strengths and collaborate in the areas of manufacturing, selling, distribution, procurement and technology.”

(Business Line)