AkzoNobel

Dutch coatings maker AkzoNobel has agreed to sell its Southeast Asia paints business to Japan's Nippon Paint for $1.35 billion. The deal covers the company's decorative paints operations in the region and marks another step in AkzoNobel's portfolio streamlining, while Nippon Paint continues expanding its footprint across Asian markets. The transaction, announced via Reuters, is expected to attract attention from industry watchers tracking consolidation in the global coatings sector.

Japan's Nippon Paint has agreed to acquire AkzoNobel's Southeast Asia decorative paints business in a deal valued at $1.35 billion. The transaction would shift ownership of a major regional coatings operation, spanning households and construction markets, from the Dutch group to the Japanese manufacturer. Details on regulatory approvals and closing timeline were not given in the initial report.