PPG Industries finalizes $2.3B purchase of Mexico's Comex

• PPG Industries (NYSE:PPG) says it formally finalized its acquisition of Mexican paints maker Consorcio Comex for $2.3B.
• On Friday, PPG said it had received a favorable ruling from Mexico's competition regulator to complete the purchase, after twice rejecting Sherwin-Williams' proposed takeover for Comex last year on grounds that it would create unfair market conditions.
• Comex had sales of ~$1B in 2013.