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AkzoNobel to sell paint businesses to Nippon Paint for €1.2bn
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The Dutch paintmaker says it will sell decorative-paint businesses to Nippon Paint, with most of the transactions expected to close in mid-2027.
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AkzoNobel says it is selling its decorative-paint businesses in Southeast Asia, Papua New Guinea and Australia to Japan’s Nippon Paint for about $1.35bn (€1.2bn), according to an ANP report published by Nieuws.nl. The businesses are in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia. [1]
AkzoNobel expects to retain about €900m after taxes and payments to minority shareholders. The Indonesian sale is expected to close by the end of 2026, while most of the other transactions are expected to close around mid-2027, subject to regulatory approval. [1]
AkzoNobel has previously sold its decorative-paint businesses in India and Pakistan. It says it will now focus more closely on its planned merger with US-based Axalta. [1]
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