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The recent aquisition by Berger Paints India of Polish company Bolix SA, the market leader in the external insulation finishing system sector (EIFS), was advised on by MSI Global Alliance member firms in three countries.
Kolkata based Berger Paints India, a client of Delhi accounting firm member J.C. Bhalla & Co, acquired Bolix SA for a net purchase price of $38.6 million from global private equity group Advent International.
J.C. Bhalla & Co advised Berger paints to structure its outward investment in Poland via Cyprus, and used the services of Cypriot MSI Global Alliance law firm member Demetrios A Demetriades & Co, while Warsaw based member Tomczak & Partners Law Office conducted the necessary due diligence. The holding was bought by Berger Paints' wholly-owned Cyrus subsidiary.
Anil Bhalla, senior partner at the firm says: "The success of this cross-border transaction demonstrates the important role played by MSI Global Alliance member firms on the international stage. The client's satisfaction and comfort achieved through this cooperation is one of the prime motivations for joining MSI Global Alliance and shows the effectiveness of membership of an alliance of legal and accounting firms."
Bolix SA also exports to countries including Ukraine, Russia and the Baltic states and had an annual turnover exceeding $45.5 million in 2007.
For more information
Please contact Akhil Bhalla at Delhi accounting firm J.C. Bhalla & Co.
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