AkzoNobel to Sell Specialty Chemicals Business to The Carlyle Group and GIC
AMSTERDAM – AkzoNobel announced the sale of 100% of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion. This transaction creates two focused and high-performing businesses – Paints and Coatings, and Specialty Chemicals – as part of its strategy announced in April 2017. The transaction is expected to be completed before the end of 2018.
The board of management and the supervisory board concluded that a private sale to The Carlyle Group and GIC is in the best interests of AkzoNobel, Specialty Chemicals and its respective stakeholders, including employees, shareholders and customers. This is the outcome of a thorough dual-track process during which the boards of AkzoNobel carefully considered both a legal demerger and a private sale.