Japanese announced that it will acquire AkzoNobel's Southeast Asian architectural coatings business for a total consideration of $1.35 billion (approximately ¥216.0 billion). The business operates under the Dulux brand in 7 countries, including Vietnam, Malaysia and Singapore. The agreement was signed on 3 October, with completion expected in mid-2027.
Japanese announced plans to acquire the Southeast Asian architectural coatings business of Dutch coatings major AkzoNobel. The total consideration is $1.35 billion, funded through a combination of borrowings and cash on hand, with no new shares to be issued. The acquisition covers businesses operating in 7 countries: Vietnam, Malaysia, Singapore, Indonesia, Thailand, Australia and Papua New Guinea.
According to materials on the brands and operating structure, the local brands are Dulux, Maxilite and Aquatech. There are 3 production sites and 1 research and development center in Malaysia. In Indonesia, Japanese will acquire 100% of the shares in a joint venture, while the transactions in Thailand, Australia and Papua New Guinea will take the form of business transfers. Completion is expected in mid-2027.