Asian Paints' indirect subsidiary Berger International (BIPL), Singapore, has entered into a share purchase agreement (SPA) with the ANSA Coatings International, St. Lucia (ANSA Coatings) for divestment of its entire stake in Lewis Berger (Overseas Holdings), UK (LBOH), wholly owned subsidiary of BIPL, which in turn holds 100 percent stake in Berger Paints Barbados, 51 percent stake in Berger Paints Jamaica and 70 percent stake in Berger Paints Trinidad.

Accordingly, BIPL, on closing and on completion of conditions set out in the Share Purchase Agreement, will divest its stake from LBOH and thereby from the above mentioned units operating in the Caribbean region.

ANSA Coatings is a subsidiary of the ANSA McAL Group, a diversified conglomerate which operates across eight industrial sectors, in over eight territories and is listed on the Trinidad and Tobago Stock Exchange.

Shares of the company gained Rs 3.6, or 0.32%, to settle at Rs 1,144.80. The total volume of shares traded was 73,506 at the BSE (Friday).