Akzo Nobel N.V. has confirmed its offer to acquire the powder coatings operations and International Research Centre from its publicly listed subsidiary, Akzo Nobel India Limited.
Additionally, the deal includes transferring the intellectual property for the local Decorative Paints business to Akzo Nobel India.
Strengthening Focus on Liquid Paints and Coatings
These transactions will streamline AkzoNobel India’s operations, allowing it to focus entirely on liquid paints and powder coatings.
By securing full brand and technology independence in its core Decorative Paints segment, the company aims to enhance its market position and innovation capabilities.
Board Approval and Next Steps
The board of directors at AkzoNobel India has approved the offer. However, the transaction still requires approval from both AkzoNobel India’s shareholders and Akzo Nobel N.V.’s Supervisory Board.
As per the press release, AkzoNobel India will seek shareholder approval in the coming weeks, with the voting process expected to conclude within a month.
