Kansai Paint (4613) · InitiativeDropped
Transfer of Kansai Plascon Africa (KPEA) shares to an Akzo Nobel group company
First written in FY2023-Q1. 1 of 3 entries say "Restated". Latest entry: FY2024-Q3.
3entries
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Cancellation of the plan to transfer shares in the African coatings businessA theme 1 companies write about · 0 as a headwind · 0 as a tailwind
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Full recordFilings, disclosures and news, newest first
- FY2024-Q3DroppedAnnual report
「The Board of Directors resolved at its meeting held on 29 November 2023 to terminate this transfer agreement.」
The agreement to transfer shares in KPAL, KPEA and other companies to an Akzo Nobel group company was terminated, and the plan to sell the African businesses under the previous agreement did not continue. - FY2023RestatedAnnual report
「We will manage the Africa segment as a core business until the divestiture is completed.」
Even after deciding to sell the African businesses, including KPAL and KPEA, the sale had not been completed as of the end of the fiscal year, and the company reaffirmed its policy of managing them as a core business until completion. - FY2023-Q1First statedAnnual report
「In connection with this share transfer, KPAL, its 15 subsidiaries and 2 affiliates, KPEA and its 6 subsidiaries will be removed from the scope of consolidation. The transaction is subject to applications to and approval from the relevant authorities, including regulatory authorities, and is expected to be completed during 2023.」
The company entered into an agreement to transfer its shares in KPAL and KPEA to Akzo Nobel Coatings International B.V. A total of 24 subsidiaries and affiliates are expected to be removed from the scope of consolidation, and completion is expected during 2023 subject to approval from the relevant authorities, including regulatory authorities.