AkzoNobel N.V. has confirmed that it’s made an offer to acquire the Powder Coatings operations and International Research Center from its publicly listed subsidiary, AkzoNobel India Limited. The offer also includes transferring the intellectual property for the local Decorative Paints business to its Indian subsidiary.
Focus on Liquid Paints & Coatings Business
The transactions will make AkzoNobel India a more focused liquid paints and coatings business and allow it to become fully brand and technology independent in its core Decorative Paints business.
The board of directors of AkzoNobel India has accepted AkzoNobel’s offer. Execution of the transactions remains subject to AkzoNobel India shareholder approval and AkzoNobel N.V. Supervisory Board approval. AkzoNobel India will seek its shareholders’ approval in the coming weeks, with the voting process expected