Nippon Paint to Acquire Dutch Firm's Decorative Paints Biz
Tokyo, Oct. 5 (Jiji Press)--Japan's Nippon Paint Holdings Co. said Monday it will acquire Dutch rival Akzo Nobel NV's decorative paints business in Southeast Asia and Oceania for about 1.35 billion dollars. The acquisition, covering Vietnam, Malaysia, Singapore, Indonesia, Thailand, Australia and Papua New Guinea, is expected to further strengthen Nippon Paint's business foundations across t...
Japan's Nippon Paint Holdings Co. announced on Monday its intention to acquire Dutch company Akzo Nobel NV's decorative paints business in Southeast Asia and Oceania for approximately 1.35 billion dollars. The acquisition spans Vietnam, Malaysia, Singapore, Indonesia, Thailand, Australia, and Papua New Guinea, with the aim of bolstering Nippon Paint's position in the Asia-Pacific region.
Currently, Nippon Paint holds the largest share of the architectural paints market in Asia. The company plans to continue using Akzo's Dulux global brand in the acquired countries. Nippon Paint will utilize its cash reserves and loans from financial institutions to finalize the deal, which is projected to be completed in mid-2027.
In April, Nippon Paint and U.S. paint manufacturer Sherwin-Williams Co. jointly submitted a bid to purchase all Akzo shares, but Akzo declined their proposal. In July, Nippon Paint made its own independent offer to acquire Akzo's architectural paints operations.
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