AkzoNobel Closes Sale of Specialty Chemicals to The Carlyle Group and GIC

Akzo Nobel N.V has completed the sale of the Specialty Chemicals Business to The Carlyle Group and GIC for an enterprise value of €10.1 billion.

“Today is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company, with market leading positions, strong global brands, and a clear strategy to create value for all our stakeholders,” said Thierry Vanlancker, CEO of AkzoNobel. “This is also an important step for the Specialty Chemicals business, and I would like to take this opportunity to say thank you to our colleagues and wish them a successful future with Carlyle and IC.”

As agreed at the Extraordinary General Meeting on Nov. 30, 2017, AkzoNobel will return the majority of net proceeds from the sale of Specialty Chemicals to its shareholders.