2 hrs ago
AkzoNobel Sells Southeast Asian Paints Business to Nippon Paint
AkzoNobel is selling its decorative paint business in several Southeast Asian markets and Australia to Nippon Paint.
Nippon Paint will pay $1.35 billion for it.
After taxes and payments to minority partners, AkzoNobel expects to receive about $1 billion.
The sale includes businesses in seven countries and territories.
The Indonesia part is expected to close in late 2026.
The other parts are expected to close around the middle of 2027.
AkzoNobel says the sale completes its review of its Asian decorative paints portfolio.
The company now says it will focus on completing its merger with Axalta.
AkzoNobel agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion.
The business includes operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
AkzoNobel expects about $1 billion in net cash proceeds after taxes and payments to minority partners.
The Indonesia transaction is expected to close in late 2026; the other transactions are expected around mid-2027.
AkzoNobel said it will focus on completing its announced merger with US coatings maker Axalta.
- Who
- AkzoNobel and Nippon Paint
- What
- AkzoNobel agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion.
- Where
- Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
- When
- The deal was announced on October 5, 2026; Indonesia is expected to close in late 2026 and the other transactions around mid-2027.
- Why
- AkzoNobel said the sale completes its review of its Asian decorative paints portfolio and supports its strategy to focus on areas where it can achieve differentiating scale and strengthen its position.
AkzoNobel
Nippon Paint
Sale and future portfolio plans
AkzoNobel
AkzoNobel described the sale as completing its Asian decorative paints portfolio review and said it has no plans to sell further assets from the decorative paints business.
Nippon Paint
Nippon Paint remains interested in a larger deal for the decorative paints business, according to the Financial Times; integration of the Southeast Asian business could occupy it for some time.
Key facts
- Agreed sale price
- $1.35 billion
- Expected net cash proceeds
- About $1 billion after tax and payments to minority partners
- Markets included
- Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia
- Indonesia transaction timing
- Expected to close separately in late 2026
- Other transaction timing
- Expected to close around mid-2027
- Next stated focus
- Completing AkzoNobel's merger with Axalta, announced in November of the previous year
- Publication date
- October 5, 2026
Quotes
Greg Poux-Guillaume
Chief executive of AkzoNobel
“The successful completion of our Asia portfolio review is part of an ongoing strategy to focus our portfolio on areas where we can achieve differentiating scale and strengthen our position”
thehindubusinessline.com
Sources
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