Business

AkzoNobel to Acquire Grupo Orbis

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AkzoNobel is on track to acquire Colombia-based paints and coatings company Grupo Orbis. The acquisition is subject to regulatory approvals and is expected by end of this year or in early 2022. Financial details were not disclosed.

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Polynt-Reichhold Will Repurchase Investindustrial’s Shares

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Black Diamond Capital Management announced that Specialty Chemicals International Limited, a holding company of the Polynt-Reichhold group, will repurchase Investindustrial’s shares in Polynt-Reichhold. Following the completion of the transaction, Black Diamond will become Polynt-Reichhold’s controlling shareholder.

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Axalta to Acquire U-POL

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Axalta Coating Systems announced it will acquire U-POL Holdings Limited ("U-POL") from Graphite Capital Management LLP and other holders for £428 million (approximately $590 million) subject to certain adjustments set forth in the sale and purchase agreements for the transaction.

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Songwon and SABO Extend Distribution Agreement

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Songwon announced it has extended its distribution agreement with SABO S.p.A. for the SABOSTAB® HALS portfolio and oxanilide UV Absorbers. According to the companies, the extension, which is non-exclusive for Europe, enables them to focus on opportunities outside of Europe, particularly in the areas of automotive and agricultural applications, as well as in the building and construction sector.

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Clariant to Sell Pigments Business

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Clariant agreed to sell its pigments business to Heubach Group and SK Capital Partners in a deal that values the business at up to 855 million Swiss francs, or about $951.27 million. The deal is expected to be finalized in the first half of 2022.

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