Nippon Paint Holdings Co. has entered into an agreement with the Dutch Akzo Nobel NV to acquire part of the division's assets. Deco Paints for $1.35 billion This is reported in a press release. Nippon.
The deal includes regional assets Deco Paints in Southeast Asian countries, including Vietnam, Indonesia, Malaysia, Thailand, Singapore and Australia. At the same time, Akzo Nobel will retain full control over the coatings manufacturing and global business services division.
The financing of the transaction involves the use of bank loans and own funds without issuing new shares. The transaction is expected to be completed in mid-2027.
Nippon Paint sees the new divisions as "highly promising enterprises with a well-developed distribution network, a recognizable brand, and production and logistics systems."
Previously, Nippon Paint, together with Sherwin-Williams Co., tried to acquire all assets Deco Paints for 7.5 billion euros ($8.4 billion), but Akzo rejected all offers because it considered the cost undervalued.
The deal completes the process of reviewing Akzo's decorative paints portfolio in Asia following the sale of assets in India and Pakistan. Akzo Nobel intends to continue implementing plans to merge with the American Axalta Coating Systems Ltd. to create a combined company worth $25 billion and with total annual sales of $17 billion.
Akzo Nobel N.V. is a Dutch multinational paint and varnish company. Akzo Nobel owns a number of consumer brands, including Dulux, Cuprinol, and Hammerite, as well as Polyfilla crack fillers. The headquarters is located in Amsterdam (the Netherlands) with offices in 150 countries.
Nippon Paint Holdings Co., Ltd. is a Japanese company producing paints and varnishes. The company is the fourth largest paint manufacturer in the world. The headquarters is located in Osaka. (Japan).Read our Telegram channel "Mergers and Acquisitions. AK&M».
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