Kansai Paint has announced an important development regarding the shareholding structure of Polisan Kansai Boya Sanayi ve Ticaret AŞ. According to the announcement, Kansai Paint and Marmara Holding AŞ have signed a non-binding Memorandum of Understanding (MoU) for the transfer of Marmara Holding AŞ's 50% stake in Polisan Kansai Boya to Kansai Paint.

The proposed transaction value is USD 93 million. Completion of the transaction remains subject to the satisfactory completion of due diligence, the execution of definitive agreements and the receipt of the required regulatory approvals.

Upon completion of the transaction, Kansai Paint will become the sole shareholder of Polisan Kansai Boya.