Sector News

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

January 11, 2018
Energy & 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

April 14, 2024

Nadja Håkansson appointed Chief Executive Officer of thyssenkrupp Uhde

Energy & Chemical Value Chain

The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.

April 14, 2024

Neste and Lotte Chemical team up to scale renewable plastics from used cooking oil

Energy & Chemical Value Chain

Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.

April 14, 2024

EU chemical industry confidence shows upward trend

Energy & Chemical Value Chain

At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.

How can we help you?

We're easy to reach