International. Paint manufacturer Sherwin-Williams completed the acquisition of the U.S./Canada business of Consorcio Comex S.A. The U.S. company will pay $90 million and assume the present value of liabilities in the $75 million range.
Likewise, Sherwin-Williams and Comex assured that they remain fully committed to the regulatory approval of the Federal Competition Commission of Mexico so that the US company completes the acquisition of Comex's operations in Mexico. Meanwhile, the Share Purchase Agreement was amended to extend the exclusivity period until March 31, 2014.
Comex's operations in the United States and Canada consist of 314 stores, of which 234 are in the U.S. and 80 in Canada (eight manufacturing locations, five of them in the United States). Comex also supplies coating products to approximately 1,500 external outlets in Canada.
