(AKZA; AKZOY)

Akzo Nobel N.V. has confirmed that it’s made an offer to acquire the Powder Coatings operations and International Research Center from its publicly listed subsidiary, Akzo Nobel India Limited. The offer also includes transferring the intellectual property for the local Decorative Paints business to its Indian subsidiary.

The transactions will make AkzoNobel India a more focused liquid paints and coatings business, and allow it to become fully brand and technology independent in its core Decorative Paints business.

The Board of Directors of AkzoNobel India has accepted AkzoNobel's offer. Execution of the transactions remains subject to AkzoNobel India shareholder approval and Akzo Nobel N.V. Supervisory Board approval. AkzoNobel India will seek its shareholders’ approval in the coming weeks, with the voting process expected to conclude one month later.

For further information, please see AkzoNobel India's disclosures at [link 1], [link 2] and [link 3]

About AkzoNobel

Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.