Berger paints acquired Boliz for $ 38 mn-Share price may move updwards

Thebullishtrends: Berger Pains share price is at Rs.43.90(+Rs.2.55). Berger Paints India Ltd has informed BSE that the Company has signed an agreement on April 28, 2008 for the acquisition of all the shares of Bolix S.A. (Bolix), a leading provider of External Insulation Finishing System (EIFS) in Poland, from Advent International, a global private equity group. The acquisition will be made through a wholly owned subsidiary of Berger Paints India Ltd in Cyprus.The acquisition will be carried out at an estimated net purchase price of around 38.6 million US Dollars.

Berger Paints has posted good Q 3 results, this acquisition will move the share price today we are expecting that the counter will open in a strong note, there is a possibility to move the price to Rs.55-60.