AkzoNobel has agreed to sell its Southeast Asian and Australian decorative paints businesses to Nippon Paint. The total transaction value is approximately US$1.35 billion, and the agreement expressly includes the Dulux business in Indonesia.
AkzoNobel has agreed to sell its Southeast Asian and Australian decorative paints businesses to Nippon Paint for approximately US$1.35 billion. The agreement is described as including the Dulux paints business in Indonesia.
Net cash of approximately US$1 billion is expected after taxes and payments to minority shareholders.
Completion in Indonesia is targeted by the end of 2026, with completion in the other countries expected around mid-2027. This will complete the process of reviewing the decorative paints business portfolio in Asia.
Nippon Paint has previously made proposals for AkzoNobel's decorative paints business, including a proposal valued at approximately €7.5 billion in July 2026, according to reports. A previous proposal envisaging the acquisition of AkzoNobel as a whole was also withdrawn.