AkzoNobel

AkzoNobel has agreed to sell its Southeast Asia paints business to Japan's Nippon Paint in a deal valued at $1.35 billion. The transaction covers the Dutch coatings company's decorative paints operations across the region. The move reflects ongoing consolidation in the global paints and coatings industry, as larger players acquire regional assets to expand their market reach.

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.