Akzo Nobel N.V. and Axalta Coating Systems Ltd. today received conditional approval from the European Commission for their proposed all-stock merger of equals, which will create a premier global coatings company. The transaction is expected to close in early 2027 subject to pending regulatory approvals.
Following constructive discussions with the European Commission, AkzoNobel and Axalta have agreed to a targeted remedy involving the divestment of AkzoNobel’s European vehicle refinish business.
The commitments offered fully address the preliminary competition concerns identified by the European Commission by removing the horizontal overlap between the companies’ activities in the European Economic Area, UK and Switzerland. No other competition issues were identified by the European Commission in any other markets. This outcome will preserve the same level of competition and customer choice in the vehicle refinish coatings market in Europe while maintaining the strategic benefits of the merger on the overall deal.
The combination will bring together two leading coatings companies with complementary portfolios, technologies and brands, creating a global coatings company with approximately $17 billion in revenue and a broad portfolio across Powder Coatings, Aerospace Coatings, Refinish, Mobility, Marine and Protective Coatings, Industrial Coatings and Decorative Coatings.
“Receiving the European Commission’s approval is an important milestone as we move closer to completing our merger with Axalta,” says Greg Poux-Guillaume, CEO of AkzoNobel, who will serve as CEO of the combined company. “We’re well on track and look forward to bringing together our complementary technologies, expertise and talented teams to accelerate growth.”
Chris Villavarayan, Axalta CEO and President, who will serve as Deputy CEO of the combined company, adds: “We are pleased that the European Commission has approved the transaction. Together we will be better positioned to serve our customers around the world, accelerate investment in differentiated technologies, and create a global leader in coatings with scale, innovation and capabilities to shape the future of our industry.”
Source: akzonobel.com
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