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AkzoNobel: is about to sell its chemicals division

(CercleFinance.com) - AkzoNobel has confirmed that the spin-off of its specialty chemicals business, with the vast majority of net proceeds from this transaction set to be returned to shareholders, is now underway.

The American private equity group Apollo has teamed up with the Dutch fund PGGM to acquire Akzo Nobel's specialty chemicals business, the FT says. This business would be worth about 10 billion euros, according to the financial daily, Aurel BGC reports this morning. There are also other contenders interested in making this acquisition.

Also remember that last November AkzoNobel announced the interruption of talks for the merger of its paints and coatings activities with Axalta.

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