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The Board of Directors of India-based Asian Paints have approved, in principle, an arrangement with the promoters of the Sleek Group for acquiring a 51% stake in the Sleek Group, which is a leading manufacturer and supplier of kitchens.
"Sleek is well poised to be a meaningful and enriching partner for Asian Paints’ foray into modern kitchens. This acquisition will offer significant opportunities and synergy for the company,” said KBS Anand, MD and CEO, Asian Paints Limited.