AkzoNobel reaches final agreements for divestments of decorative paints
Published: 19 Sep 2008 01:49:07 PST
AkzoNobel has agreed to sell Crown Paints, its decorative paints business in the UK and Ireland to Endless Llp - an independent private equity house. AkzoNobel has also agreed on a deal to sell two Belgian brands to Rieu Investissements SA - a coatings producer from France. These divestments are a consequence of the commitment package, which had been agreed with the European Commission in connection with AkzoNobel's acquisition of Imperial Chemical Industries Plc (ICI) in January 2008.
In the UK and Ireland, the transaction includes the manufacturing and warehouse sites in Darwen, Hull, Warrington, Dublin and Belfast. It also comprises Crown Decorator Centre network and a brand portfolio encompassing brands like Crown®, Crown Trade®, Berger®, MacPherson®, Permoglaze® and Sandtex®.
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