AkzoNobel’s CEO said the European refinish sale and Axalta’s North American wood coatings sale are the only remedies regulators have requested.
AkzoNobel N.V. confirmed Oct. 21 that it plans to sell its European vehicle refinish business to win European Commission approval of its roughly $25 billion merger with Axalta Coating Systems Ltd., while Axalta plans to sell its North American wood coatings business to satisfy U.S. regulators. AkzoNobel CEO Greg Poux-Guillaume disclosed the remedies on the company’s third-quarter earnings call and said the two companies have not been asked to divest anything else in any jurisdiction.
The confirmation follows the
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