Akzo Nobel Sells Chemicals Division to Carlyle and GIC for EUR 10.1 Billion

Akzo Nobel has sold its chemicals division to US-based Carlyle and Singapore-based GIC for EUR 10.1 billion including debt. This transaction forms part of the strategy announced in April 2017 to establish two focused, high-performing businesses: Paints and Coatings and Specialty Chemicals. The transaction is expected to be completed before the end of 2018.