Akzo Nobel17 May 2018 09:09
Tuesday 27 March, 2018
AkzoNobel NV
AkzoNobel to sell Specialty Chemicals to The Ca...
March 27, 2018
Agreement successfully concludes dual-track process
Akzo Nobel N.V. (AKZA; AKZOY)
Key milestone in creating a focused, high performing Paints and Coatings company
Unleashing the Specialty Chemicals business to achieve its full potential
Thorough process results in best outcome for all stakeholders
Vast majority of net proceeds to be returned to shareholders
AkzoNobel today announces the sale of 100% of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of �10.1 billion. This transaction creates two focused and high performing businesses - Paints and Coatings, and Specialty Chemicals - as part of its strategy announced in April 2017. The transaction is expected to be completed before the end of 2018