Sector News

Akzo Nobel continues talks with 3-4 possible buyers for chemicals business

January 11, 2018
Chemical Value Chain

Akzo Nobel, the maker of Dulux paint, is continuing talks with three to four possible buyers of its specialty chemicals division, a spokesman said on Wednesday.

Andrew Wood said the company still planned to either sell or seek a separate stock market listing for the division by mid-April.

The plans are part of efforts to placate investors after the Dutch paintmaker rejected a takeover offer from rival PPG Industries last year.

Specialty chemicals account for a third of Akzo’s sales and earnings and its value is estimated at roughly 9 billion euros ($10.8 bln).

On Tuesday, Bloomberg News reported that private equity firm Carlyle, Dutch investor Hal Investments, private equity firm Apollo together with chemicals company Lanxess, and private equity team Advent International and Bain Capital were still in the running to buy the chemicals arm.

The companies all either declined comment or could not be reached for comment on Wednesday.

Wood could not confirm the bidders’ identities, but said they included a mix of private equity and strategic buyers.

By Toby Sterling

Source: Reuters

comments closed

Related News

January 15, 2022

Neste brings liquefied plastic waste trial to successful conclusion for industrial-scale recycling

Chemical Value Chain

Neste is announcing the conclusion of its first series of trials into processing liquefied waste plastic with chemical recycling technology at its Porvoo refinery in Finland. The oil refining company says it has processed about 800 tons of liquefied waste plastic over the last two years – roughly the same amount generated annually by a European city with 500,000 people.

January 15, 2022

SIKA posts record sales for 2021 – growth of 17.1%

Chemical Value Chain

Sika performed well in a challenging environment in 2021. Despite the persistent COVID-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies.

January 15, 2022

Ineos joins Nextloopp’s polypropylene recycling project for food-grade polymers

Chemical Value Chain

Ineos Olefins and Polymers Europe is joining the pioneering polypropylene (PP) recycling project Nextloopp, supporting its delivery of food-grade recycled content. The chemicals company will orchestrate a pivotal two-year project that will inform the building of a demonstration plant in the UK to produce 10,000 metric tons of recycled polypropylene (rPP) annually.

Send this to a friend