🎨 AkzoNobel Sells Southeast Asia Paints Business to Nippon Paint for $1.35 Bn

• Deal Overview: Dutch paint maker AkzoNobel (owner of Dulux) agreed to sell its Southeast Asian decorative paints business to Japan's Nippon Paint for US$ 1.35 Bn. Net cash proceeds are expected at ~US$ 1.0 Bn after taxes and minority partner payouts. • Geographic Coverage: The transaction spans decorative paint operations across Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia. • Timeline & Strategy: The sale completes AkzoNobel's Asia portfolio review, following prior divestments in India (US$ 1.6 Bn) and Pakistan (€50 Mn). The Indonesia portion is expected to close in late 2026, with all remaining regions closing around mid-2027. • Corporate Focus: AkzoNobel will now prioritize closing its pending merger with US coatings producer Axalta, while Nippon Paint expands its market presence across regional paint and chemical supply chains.