Akzo Nobel to Sell Southeast Asia Decorative Paints Business for $1.35 Billion
By Kosaku Narioka
Akzo Nobel has agreed to sell its decorative paints business in Southeast Asia to Nippon Paint at an enterprise value of $1.35 billion.
The Dutch paint company said Monday that net cash proceeds after taxes and minority partners are expected to be about $1 billion.
Akzo Nobel said that the planned sale would mark the conclusion of its decorative paints portfolio review in Asia and that it would continue to focus on the closing of its planned merger with Axalta Coating Systems.
The Dutch paint company said the agreements with Nippon Paint encompass its decorative paints business in seven countries: Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
Akzo Nobel said the sale is expected to be completed in mid-2027, except for the Indonesia business, which is expected to be completed separately in late 2026.
Nippon Paint said a unit would acquire the entirety of Akzo Nobel's decorative paints joint venture in Indonesia from both Akzo Nobel and its partner.
Write to Kosaku Narioka at [email protected]
(END) Dow Jones Newswires
October 04, 2026 22:25 ET (0...