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AkzoNobel Near $1B+ Asia Paint Deal
5 Oct
Summary
- AkzoNobel is close to selling its Asian decorative paints business.
- Nippon Paint is the potential buyer in a deal exceeding $1 billion.
- The sale includes operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, PNG, and Australia.
Dulux paint maker AkzoNobel is reportedly nearing a significant agreement to divest its Southeast Asian decorative paints business. The potential buyer is Nippon Paint, with the deal anticipated to surpass $1 billion. This strategic sale, which could be finalized as early as Monday, would include AkzoNobel's decorative paint operations in key markets such as Vietnam, Indonesia, Malaysia, Thailand, and Singapore. The divestment also extends to Papua New Guinea and Australia, signaling a considerable reshuffling of AkzoNobel's regional footprint.
This move follows Nippon Paint's previous interest in AkzoNobel's assets, including a substantial valuation of the decorative paints business at approximately €7.5 billion ($8.44 billion) earlier in the year. While Nippon Paint has expressed interest in larger acquisitions, the integration of the Southeast Asian business is expected to be a substantial undertaking. AkzoNobel currently has no plans to sell further assets from this particular business segment.
