Nippon Paint Holdings announced that it will acquire the Southeast Asian architectural coatings business of Dutch company Akzo Nobel. The purchase price is $1.35 billion (approximately ¥210 billion), and the company said it will bring high-value-added brands under its umbrella.
Nippon Paint Holdings formally announced that it will acquire the architectural coatings business of European coatings major Akzo Nobel in Southeast Asia. The transaction is valued at $1.35 billion, with the stated aim of increasing earnings power in the Southeast Asian market.
Nippon Paint HD said the acquisition will bring Akzo's high-value-added brands under its umbrella and strengthen its competitiveness and profitability in local markets. The article focuses on how the region's business mix may be affected as the acquisition progresses.
Meanwhile, Nikkei reported that Nippon Paint had proposed in July to acquire Akzo's architectural coatings business for a total of €7.5 billion, and the latest announcement can be viewed as part of developments surrounding the viability of that proposal.