Published • loading... • Updated
AkzoNobel could sell unit to Nippon Paint for over $1 billion, FT reports
The sale would bring AkzoNobel about $1 billion in net cash as it focuses on its planned merger with Axalta, the FT reported.
- On Monday, AkzoNobel agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion, completing a review of its Asian decorative paints portfolio.
- AkzoNobel Chief Executive Greg Poux-Guillaume previously rejected multiple approaches from Nippon for the entire decorative paints unit, which the Japanese company had valued at $8.4 billion.
- The divestment covers operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia, which generated $291 million in revenue in 2025, according to a Nippon presentation.
- Akzo expects net cash proceeds of about $1 billion and will focus on closing its merger with US-based Axalta Coating Systems, announced last year.
- This sale completes Akzo's Asian portfolio review, following earlier divestments of decorative paints operations in India and Pakistan for $1.6 billion, while Nippon remains interested in larger acquisitions.
Insights by Ground AI
27 Articles
27 Articles
·Amsterdam, Netherlands (Kingdom of the)
Read Full Article
Akzo Nobel agreed to sell its decorative paint business in Southeast Asia to Nippon Paint, with an enterprise value of $1.35 billion. Exclusive material for subscribers. To have full access, access the material link and register.
·Rio de Janeiro, Brazil
Read Full Article
After fending off a takeover attempt, the Japanese company Nippon is now acquiring a stake in the paint company.
·Hilversum, Netherlands (Kingdom of the)
Read Full Article
Coverage Details
Total News Sources27
Leaning Left1Leaning Right11Center4Last UpdatedBias Distribution69% Right
Bias Distribution
- 69% of the sources lean Right
69% Right
C 25%
R 69%
Factuality
To view factuality data please Upgrade to Premium
