AkzoNobel announced the sale of 100 % of its Specialty Chemicals business to The Carlyle Group and its investment partner GIC for an enterprise value of €10.1 billion. The transaction is expected to be completed before the end of 2018.
The transaction is subject to customary closing conditions including the relevant regulatory approvals and consultation with the relevant employee representative bodies. AkzoNobel obtained shareholder approval for the separation at an Extraordinary General Meeting held on November 30, 2017.
Private equity firm Carlyle has significant experience in the chemicals industry and a track record when it comes to health, safety, innovation, and sustainability. AkzoNobel focusses on creating a high performing Paints and Coatings company.
- AkzoNobel, Amsterdam, The Netherlands
- The Carlyle Group, Washington, D.C., USA
- GIC Private Limited, Singapore