AkzoNobel will sell its Decorative Paints business across seven South East Asian countries to Nippon Paint for $1.35 billion, completing its Asia portfolio review as it focuses on its Axalta merger.
AkzoNobel and Axalta have agreed to merge in an all-stock deal, creating a global coatings leader with $17 billion in revenue, a $25 billion enterprise value, and significant synergies expected within three years.
US coatings company Axalta has entered into an agreement to buy U-POL Holdings, a UK manufacturer of repair and refinish products for the automotive industry, from private equity owner Graphite Capital Management. Closing is expected to for the second half of 2021. The purchase at about $590 million.
