AkzoNobel and Kansai Paint have jointly decided not to proceed with AkzoNobel’s previously planned purchase of Kansai’s paint and coatings divisions on the African continent.
AkzoNobel CEO Greg Poux-Guillaume expressed his disappointment at the decision to cancel the planned acquisition. “It is disappointing that this planned acquisition cannot go ahead, but we remain committed to our strong businesses and leading brands in Africa. As AkzoNobel’s performance rebound accelerates, we will remain focused on our key priorities, including strengthening our balance sheet, which will accelerate,” he added.
The two companies have reached an agreement in which there will be no charge for the cancellation of the purchase agreement. AkzoNobel is also a company that offers innovative, sustainable paint and coatings products that are increasingly trusted by its customers, communities and the environment.
AkzoNobel is a pioneering paint company offering a wide range of brands and products for various surfaces and applications. It supplies innovative, sustainable paints and coatings that customers, communities and the environment increasingly rely on.
In addition, the company is a company with a wide variety of brands, including Dulux, International, Sikkens and Interpon, which are trusted by customers around the world. AkzoNobel’s presence extends to more than 150 countries.
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