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 […]
AkzoNobel Sets Nov. 30 Extraordinary Meeting on Axanzo Name and Final Board Seats
Shareholders will vote to adopt the Axanzo N.V. name and seat three non-executive directors ahead of the Axalta merger’s expected early 2027 close. AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) will hold an extraordinary general meeting Nov. 30 at which shareholders will vote on renaming the company that emerges from its planned merger with Axalta Coating […]
AkzoNobel and Axalta Choose Axanzo as Name for Combined Company
AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) and Axalta Coating Systems Ltd. (NYSE: AXTA) will operate under the name Axanzo once their planned merger closes, the companies announced Oct. 15. The combined company expects to trade under the ticker symbol AXZ on the New York Stock Exchange and Euronext Amsterdam after closing. The companies said closing […]
AkzoNobel to Sell Southeast Asia Decorative Paints Business to Nippon Paint for $1.35 Billion
Akzo Nobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) has signed binding agreements to sell its Decorative Paints business in Southeast Asia, Papua New Guinea and Australia to Nippon Paint at an enterprise value of approximately $1.35 billion (€1.20 billion), the company announced Oct. 5. The deal concludes AkzoNobel’s review of its decorative paints portfolio in Asia. […]
AkzoNobel Completes Sale of Pakistan Business to Packages Group
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, part of Pakistani conglomerate Packages Group, closing a transaction first announced in April at an enterprise value of approximately €50 million ($56.7 million), or 16.2 billion Pakistani rupees. The deal represents an EV/EBITDA multiple of 14x and includes AkzoNobel’s decorative […]
UK Competition Regulator Launches Phase 1 Review of AkzoNobel-Axalta Merger
The U.K. Competition and Markets Authority (CMA) has formally launched its phase 1 merger inquiry into the proposed combination of Akzo Nobel N.V. and Axalta Coating Systems Ltd., setting a Nov. 11 deadline to decide whether to refer the roughly $25 billion all-stock deal for an in-depth phase 2 investigation. The CMA launched the inquiry […]
AkzoNobel and Axalta Name Final Three Directors to Combined Company Board
AkzoNobel and Axalta Coating Systems have named the last three directors of the board that will govern the company the two are merging to create, completing an 11-member slate more than three months before the transaction is expected to close. Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to serve as non-executive […]
AkzoNobel and Axalta Shareholders Approve $25 Billion Merger of Equals
Shareholders of Akzo Nobel N.V. and Axalta Coating Systems Ltd. voted today to approve the companies’ roughly $25 billion all-stock merger of equals, clearing the last shareholder condition on a transaction that would create the world’s No. 2 coatings company. The combination would unite two of the largest suppliers of automotive refinish coatings to the […]
Axalta Reports Second Quarter Sales of $1.35 Billion as Refinish Grows 6%
Axalta Coating Systems Ltd. (NYSE: AXTA) reported second quarter net sales of $1.35 billion, up 3% year over year, and record adjusted earnings, as refinish net sales rose 6% and the coatings supplier secured more than 1,900 net new collision repair facilities in the first half of 2026. Adjusted earnings before interest, taxes, depreciation and […]
AkzoNobel Reports Refinish Return to Growth in Second Quarter as Axalta Merger Vote Nears
AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) reported second-quarter 2026 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of €398 million ($453.7 million) on July 22, up 1% as reported and 5% at comparable scope and constant currencies, as the coatings supplier delivered its fifth consecutive quarter of year-over-year margin expansion. Adjusted EBITDA margin rose […]
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