AkzoNobel to Sell Southeast Asia Decorative Paints Unit to Nippon Paint for $1.35 Billion

AkzoNobel NV agreed on Monday to sell its Southeast Asia decorative paints business to Nippon Paint Holdings Co. at an enterprise value of approximately $1.35 billion, concluding its Asia portfolio review. Net cash proceeds after taxes and minority interests are expected to reach about $1 billion, valuing the unit at 21 times fiscal 2025 EBITDA. The deal covers seven markets: Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia. Most transactions are expected to close in mid-2027, while the Indonesia portion, which involves a Nippon Paint subsidiary buying all stakes in a local joint venture, is anticipated to complete in late 2026. AkzoNobel will retain full ownership of its coatings business and global services organization. The sale follows earlier divestitures in India and Pakistan. AkzoNobel said it will now focus on closing its planned merger with Axalta Coating Systems. AkzoNobel shares rose 3.28% and Nippon Paint shares gained 3.45% on Monday.