AkzoNobel Divests Southeast Asian Decorative Paints Unit to Nippon Paint for $1.35 Billion

AkzoNobel has agreed to sell its decorative paints business across seven Southeast Asian and Australian markets to Nippon Paint for approximately $1.35 billion. The transaction is expected to yield around $1 billion in net cash proceeds, with most closures anticipated by mid-2027 and the Indonesian portion by late 2026. This strategic divestment allows AkzoNobel to streamline its portfolio while Nippon Paint expands its regional presence.