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Berger to divest stake in Malta arm

MUMBAI, MAY 13. Berger International Ltd (BIL), the overseas subsidiary of Asian Paints, is to divest its 84.2 per cent stake in its Malta group company — Berger Paints (Malta) Ltd (BPM) — for around Singapore $1.8 million (Rs. 4.70 crores).

"Our operations in Malta has no strategic fit, as it is our only subsidiary in Europe and its contribution to the group's sales is not significant,'' the BIL Chairman, Jalaj Dani, said in a release here today.

PTI

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