NIPPON PAINT WAS PURCHASED BY THE FAMOUS TURKISH COMPANY

The Company Betek Boya was the owner of the famous brand of paints Filli Boya. The amount
of the transaction amounted to 245 million dollars (2.39 billion liras). It is known that upon completion of the procedures accompanying the closing of the transaction, Nippon Paint will increase the capital of Betek in order to refinance the existing debt. Betek Group, founded in 1988, is a leading company, occupying a leading position in the market of decorative paints in Turkey. The company has 10 warehouses and about 1500 dealers, five representative offices in Turkey and one in Egypt. After the acquisition of Betek, Nippon Paint Holding intends to bring the company to the first position in Asia.