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. The purchase is conditional upon fulfillment of certain conditions precedent including clearance by the Polish Anti-Monopoly Office. The price is subject to usual adjustments at the time of completion of the transaction.

Ernst and Young Private Limited, India were the financial advisors to Berger on the transaction.