Sale of Southeast Asia paints biz lifts AkzoNobel shares
BUZZ-Sale of Southeast Asia paints biz lifts AkzoNobel shares ** Shares in AkzoNobel AKZO.AS rise 2.2% after the Dutch paints maker has agreed to sell its Southeast Asian decorative paints business to Nippon Paint 4612.T for $1.35 billion
** Deal covers Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia
** Akzo expects the sale to generate net cash proceeds of about $1 billion
** The deal valuation implies 21 times the business's 2025 EBITDA, which KBC Securities says is "certainly a positive surprise"
** "The sale of the South East Deco Paints business to Nippon Paint marks the exit of Akzo Nobel out of the Asian Deco market, with the exception of China," KBC says
** Broker says attention will now shift to the planned merger with US coatings maker Axalta, expected to close in late 2026 or early 2027
(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; gdansk.newsroom@thomsonreuters.com; +48 58 769 67 13;))
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Sale of Southeast Asia paints biz lifts AkzoNobel shares
Press Digest: Financial Times - October 5
Brief: Akzo Nobel NV Akzonobel To Sell Decorative Paints South East Asia Business To Nippon Paint For $1.35 Billion