Kansai Paint will acquire 100% of shares in Helios Coatings Group
After the constructive negotiation process between shareholders of Helios Group – Ring International Holding, Franklin Templeton and GSO – and Kansai Paint Co. Ltd., one of world’s top 10 paint manufacturers, the two peers agreed on the terms and conditions of a share purchase agreement (“SPA”). The SPA was signed on December 6 in Vienna/Austria. Pursuant to the signed SPA Kansai Paint will acquire 100% of shares in Helios Coatings Group. The shares transactions will be completed in two to three months, after the approval of the Antithrust Authority. Signed SPA presents a milestone for a new development of Helios Group’s companies as Helios will become the European center of Kansai Paint.
Helios will become Kansai’s European center for R&D, innovation and business development
The president of Kansai Paint, Hiroshi Ishino was very satisfied with the signing, stating: “For Kansai Paint, Helios Group with almost EUR 400 million turnover, represents a pillar in the very important market of Europe. We already had a strong presence in Asia, Africa and Middle East but very limited in Europe, so the purchase was made with a purpose to develop and expand the coating business in that continent.”
With the purchase of Helios Group, Kansai Paint intends to increase presence across Europe and to consolidate the position as the premier coating company, also with Helios brands under its umbrella. Being under the wing of strategic owner Kansai Paint, presents various new opportunities to Helios and the benefits that will emerge out of the partnership. Helios will become Kansai’s European center for R&D, innovation and business development.