TOKYO: Nippon Paint Holdings Co Ltd on Friday said it inked a deal worth 1.285 trillion yen ($12.18 billion) with Singapore's Wuthelam Group, whose stake in the Japanese company will rise to just under 60% from 39%.
Following the announcement of one of the biggest transactions in Asia this year, shares of Nippon Paint closed up 6.5% in a near-flat broader market.
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