Nippon Paint to Buy AkzoNobel's Southeast Asia, Australia Units for $1.35 Billion
MT Newswires Live
Oct 05
Nippon Paint (TYO:4612) has agreed to acquire AkzoNobel's decorative paints operations across Southeast Asia, Australia, and Papua New Guinea for $1.35 billion.
The deal spans Vietnam, Indonesia, Malaysia, Singapore, Thailand, Australia, and Papua New Guinea, structured through Nippon Paint Group entities including NIPSEA and DuluxGroup, according to a Monday statement.
The target units generated combined revenue of about $299 million in fiscal 2024 and $291 million in fiscal 2025.
Nippon Paint plans to finance the purchase through cash on hand and debt. The transaction is expected to close by mid-2027, subject to regulatory clearances.
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