From Business Standard · Business Standard · · 1m 10s
AkzoNobel Sells Southeast Asia Paint Business
AkzoNobel sells Southeast Asia decorative paints business to Nippon Paint for $1.35 billion.
In brief
AkzoNobel sells Southeast Asia decorative paints business to Nippon Paint for $1.35 billion. 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. Originally reported by Business Standard.
AkzoNobel Announces Sale
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.
Business Scope
The sale covers decorative paints operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
Expected Proceeds
AkzoNobel expects net cash proceeds of about $1 billion after tax and payments to minority partners.
Previous Divestments
AkzoNobel earlier divested its decorative paints operations in India and Pakistan for $1.6 billion and 50 million euros, respectively.
CEO Statement
AkzoNobel CEO Greg Poux-Guillaume said the sale is part of a strategy to focus on areas where they can achieve differentiating scale and strengthen their position.
Timeline for Closing
The Indonesia deal is expected to close separately in late 2026, while the remaining transactions are expected to close around mid-2027.
What matters most
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.
