AkzoNobel continues talks with possible buyers chemicals business

AkzoNobel continues talks with possible buyers for chemicals business

10:12 AM, 12th January 2018
AkzoNobel headquarters

AMSTERDAM, NETHERLANDS: AkzoNobel NV is continuing talks with three to four possible buyers of its speciality chemicals division, a spokesman said on Wednesday.

Andrew Wood said the company still planned to either sell or seek a separate stock market listing for the division by mid-April.

The plans are part of efforts to placate investors after the Dutch paint maker rejected a takeover offer from rival PPG Industries last year.

Specialty chemicals account for a third of AkzoNobel’s sales and earnings and its value is estimated at roughly 9 billion euros ($10.8 billion).

Bloomberg News reported that private equity firm Carlyle, Dutch investor Hal Investments, private equity firm Apollo together with chemicals company Lanxess, and private equity team Advent International and Bain Capital were still in the running to buy the chemicals arm.

The companies all either declined comment or could not be reached for comment. Wood could not confirm the bidders’ identities but said they included a mix of private equity and strategic buyers.

© Reuters



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Evonik plans to expand PMMA compounding capacity at Osceola site

ESSEN, GERMANY: Evonik Industries AG said that it will begin construction of an additional line for compounding its Acrylite trademarked polymethyl me ...

Read more
Hexion sells additives technology business to Munzing

COLUMBUS, US: Hexion Inc has sold its additives technology group (ATG) business to Munzing Chemie GmbH (Munzing), a privately-owned speciality additiv ...

Read more
Yara completes acquisition of Tata Chemicals' urea business

OSLO, NORWAY: Yara International ASA has completed the acquisition of Tata Chemicals' urea business in India, marking a significant step forward for i ...

Read more
Evonik, Fufeng partner to produce L-threonine

ESSEN, GERMANY / JUNAN, CHINA: Evonik Industries AG and the Fufeng Group have entered into a cooperation agreement for the production of ThreAMINO (L- ...

Read more
Beaulieu introduces first biomass-balance polyamide yarns

WIELSBEKE, BELGIUM: Beaulieu Yarns, the global supplier of high-quality synthetic polyamide and polypropylene yarns, has now offered sustainable versi ...

Read more
GE Additive appoints Jetrion co-founder as new CEO

CINCINNATI, US: GE Additive has appointed Jason Oliver as CEO and vice president, GE Additive. As CEO, Oliver will lead the GE Additive operations inc ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X