Akzo Nobel NV Announces Sale of Decorative Paint Business in India

Akzo Nobel NV, a Dutch chemical company based in Amsterdam, has entered into an agreement to sell its decorative paint business in India to JSW Paints. The deal, valued at a substantial amount, involves JSW Paints acquiring a majority stake in Akzo Nobel India.

Key Terms of the Agreement

• JSW Paints will acquire a majority stake in Akzo Nobel India
• The deal is valued at a substantial amount
• Akzo Nobel India’s promoters have executed a share purchase pact

Impact on Share Price

The sale of the decorative paint business has led to a notable increase in Akzo Nobel India’s share price, with the stock rallying by a considerable percentage.

Sustainability Efforts

Akzo Nobel’s packaging coatings division has published a white paper on sustainability reporting and can packaging innovations. The white paper highlights the company’s commitment to environmental and social responsibility.

Future Outlook

The company’s focus on sustainability and regulatory compliance is expected to drive growth and innovation in the industry.