AkzoNobel plans to spin off its Powder Coatings business from its Indian subsidiary

Akzo Nobel N.V. has confirmed its 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 the Indian subsidiary.

These transactions will streamline AkzoNobel India into a more focused liquid paints and coatings business while enabling full brand and technology independence in its core Decorative Paints segment.

The Board of Directors of AkzoNobel India has accepted the offer. However, the execution remains subject to shareholder approval from AkzoNobel India and supervisory board approval from Akzo Nobel N.V. AkzoNobel India will seek shareholder approval in the coming weeks, with the voting process expected to conclude within a month.

Source: Akzo Nobel