(AGENPARL) – mer 29 novembre 2023 Akzo Nobel N.V.
Media release
November 29, 2023
AkzoNobel and Kansai Paint mutually agree not to proceed with African
transaction
(AKZA; AKZOY)
AkzoNobel and Kansai Paint have mutually agreed not to proceed with the company’s intended
acquisition of Kansai’s paints and coatings activities in Africa.
Commenting on the decision, AkzoNobel CEO, Greg Poux-Guillaume, says: “It’s disappointing that
this intended acquisition cannot move forward, but we remain committed to our strong businesses
and leading brands in Africa. As AkzoNobel’s performance rebound gathers pace, we’ll remain
focused on our key priorities, including the strengthening of our balance sheet, which will be
accelerated.”
The two companies have agreed that no break-up fee will be involved.
About AkzoNobel
We supply the sustainable and innovative paints and coatings that our customers, communities – and the environment – are increasingly relying
on. That’s why everything we do starts with People. Planet. Paint. Our world class portfolio of brands – including Dulux, International, Sikkens
and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global
industry leader. It’s what you’d expect from a pioneering paints company that’s committed to science-based targets and is taking genuine action
to address globally relevant challenges and protect future generations.
Not for publication – for more information
AkzoNobel Media Relations
Contact: Diana Abrahams
Christian Neefestraat 2
1077 WW Amsterdam
P.O. Box 75730
1070 AS Amsterdam
Netherlands
AkzoNobel Investor Relations
Contact: Kenny Chae
http://www.akzonobel.com