SINGAPORE (ICIS) – US paints and coatings
Company PPG Industries has one
definitive agreement to acquire Finland
Tikkurila at € 25 per share or for approx € 1 billion in
cashbox

The acquisition costs include the assumption of
Debt and Cash, PPG said in a statement on
Friday

The transaction is expected to be completed in the
second quarter of 2021

“The combination of PPG and Tikkurila is
extremely complementary, both geographically
and from a decorative brand perspective, ”says PPG
Chairman and CEO Michael McGarry said in the
Explanation

Tikkurila is a Vantaa based paint and coating
Producer with branches in 11 countries, with
more than 80% of the revenue will be from
Finland, Sweden, Russia, Poland and the Baltic Sea
conditions

The Finnish company employs around 2700 employees
worldwide and achieved sales of around 564 million € in
2019

The US acquiring company PPG is headquartered
in Pittsburgh and works in more than 70
Countries PPG reported net sales of USD 151 billion in
2019

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Tikkurila

World news – FI – US-PPG takes over Finnish Tikkurila for € 1 billion in cash

Source: https://www.icis.com/explore/resources/news/2020/12/18/10587503/us-ppg-to-acquire-finland-s-tikkurila-for-1-1bn-in-cash