AkzoNobel Sells Asia Paints Unit
AkzoNobel has agreed to sell its Southeast Asian decorative paints business to Nippon Paint for 1.35 billion dollars. The Dutch maker expects net cash proceeds of about 1 billion dollars.
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AKZO NOBEL N.V. will sell its Southeast Asian decorative paints business to NIPPON PAINT HOLDINGS CO LTD for $1.35 billion, concluding a regional portfolio review. The transaction covers operations across Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia. The Dutch manufacturer expects net cash proceeds of about $1 billion after tax and minority payments.
