AkzoNobel: buyers found for specialty chemicals unit

(CercleFinance.com) - AkzoNobel will sell 100% of its specialty chemicals business to US investment firm Carlyle Group and Singapore sovereign wealth fund GIC for an enterprise value of 10.
1 billion euros, the Dutch company said on Tuesday.

As expected, the transaction will create two focused businesses - paints and coatings, and specialty chemicals - as part of its strategy AkzoNobel unveiled in April 2017.

The transaction is expected to be completed by the end of 2018, the group said.

Copyright (c) 2018 CercleFinance.com. All rights reserved.