AkzoNobel Acquires Minority Shareholding in Coil Coatings Joint Venture
December 10, 2008
AMSTERDAM, the Netherlands - AkzoNobel has acquired Nippon Paint's 25-percent minority shareholding in their joint venture company in Europe, Akzo Nobel Nippon Paint Holding B.V.
The former 75/25 joint venture, which was first established in 1993 between Courtaulds and Nippon Paint, involved the manufacture and sale of coil coatings in the greater European region.
The transaction will take AkzoNobel's shareholding in the company to 100 percent and will allow the merger of the company and its subsidiaries into the AkzoNobel group. Financial details were not disclosed.