Archive · 5 Oct 2026
AkzoNobel Agrees to Sell Southeast Asian Paints Business to Nippon
AkzoNobel has agreed to sell its decorative paint businesses in seven markets to Nippon Paint.
The agreed price is $1.35 billion.
After taxes and payments to minority partners, AkzoNobel expects to receive about $1 billion.
The markets are Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
AkzoNobel will keep its coatings activities and Global Business Services organisation in the region.
The Indonesia part is expected to close by late 2026.
The other parts are expected to close around the middle of 2027, if required conditions are met.
AkzoNobel says the sale completes its review of its Asian decorative paints portfolio.
It plans to focus on completing its merger with Axalta.
AkzoNobel agreed to sell its decorative paints business in seven markets to Nippon Paint for $1.35 billion.
The sale covers Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia; AkzoNobel will retain its coatings activities and Global Business Services organisation.
AkzoNobel expects about $1 billion in net cash proceeds after taxes and payments to minority partners.
The Indonesia transaction is expected to close by late 2026, with the remaining transactions expected around mid-2027, subject to customary conditions including regulatory approvals.
AkzoNobel said the sale concludes its Asian decorative paints portfolio review and that it will focus on closing its merger with Axalta.
- Who
- AkzoNobel and Nippon Paint
- What
- AkzoNobel agreed to sell its decorative paints business in seven markets to Nippon Paint for $1.35 billion.
- When
- Announced October 5, 2026; Indonesia is expected to close by late 2026 and the other transactions around mid-2027.
- Where
- Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
- Why
- AkzoNobel said the sale concludes its Asian decorative paints portfolio review and supports its strategy to focus on areas where it can achieve differentiating scale and strengthen its position.
AkzoNobel's stated plans
Reported Nippon Paint interest
Potential further sale of decorative paints assets
AkzoNobel's stated plans
AkzoNobel has said it has no plans to sell further assets from its decorative paints business.
Reported Nippon Paint interest
The Financial Times reported that Nippon Paint remains interested in a larger deal for the decorative paints business, though integrating the Southeast Asian business could occupy it for some time.
- Agreed price
- $1.35 billion
- Expected net cash proceeds
- About $1 billion after taxes and payments to minority partners
- Markets included
- Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia
- Indonesia transaction
- Expected to close by late 2026
- Remaining transactions
- Expected to close around mid-2027, subject to customary closing conditions including regulatory approvals
- AkzoNobel assets retained
- Coatings activities and Global Business Services organisation
- Announced next focus
- Closing AkzoNobel's merger with Axalta
