AkzoNobel reaches final agreements for Decorative Paints divestments in connection with ICI acquisition
AkzoNobel has agreed to sell its Crown Paints decorative paints business in the United Kingdom and Ireland to Endless LLP, an independent private equity house. AkzoNobel has also agreed a deal to sell two Belgian brands to Rieu Investissements S.A., a French producer of coatings. These divestments are a consequence of the commitment package which was agreed with the European Commission in connection with AkzoNobel's acquisition of Imperial Chemical Industries plc (ICI) in January 2008.
In June, AkzoNobel already reported the divestment of two Canadian brands, as required by the Canadian Competition Bureau. Subject to approval by the European Commission the sales announced conclude the divestments agreed with regulatory authorities in connection with the ICI acquisition.
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