AkzoNobel Buys 100% Share of Powder Coatings Venture in Egypt
AMSTERDAM - AkzoNobel has raised its stake in Akzo Nobel Powder Coatings SAE in Egypt from 60% to 100%. The transaction forms part of the company's accelerated growth strategy for Egypt and the wider North Africa region.
As well as operating a powder coatings plant in Cairo, Akzo Nobel Powder Coatings SAE also has a 90% stake in the trading firm Akzo Nobel Powder Coatings Trading SAE. Financial details of the deal were not disclosed.