AkzoNobel today announced the sale of its Specialty Chemicals business to private equity firm The Carlyle Group and GIC Pte. Ltd., Singapore’s sovereign-wealth fund, for €10.1 billion ($12.5 billion). The sale, part of the plan announced last spring, to split the company into two units with one focusing on Paints and Coatings, and the other Specialty Chemicals. The transaction is expected to be completed before the end of 2018.
The Board of Management and the Supervisory Board of AkzoNobel concluded that a private sale to The Carlyle Group and GIC is in the best interests of AkzoNobel, Specialty Chemicals and
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