Deals25 Feb 2025, 03:37 am
Akzo Nobel India Limited Announces Slump Sale of Powder Coatings Business and International Research Centre
AI Summary
Akzo Nobel India Limited has announced a slump sale of its Powder Coatings business and International Research Centre to an indirect wholly owned subsidiary of Akzo Nobel N.V., proposed to be incorporated in India. The transaction is expected to complete by December 2025, subject to necessary approvals. The Powder Coatings Business and International Research Centre contributed 10.70% and 0.48% respectively to the annual consolidated turnover of Akzo Nobel India Limited for the financial year ended 31st March 2024.
Key Highlights
- Slump sale of Powder Coatings business and International Research Centre to an indirect wholly owned subsidiary of Akzo Nobel N.V.
- Expected to complete by December 2025
- Contributed 10.70% and 0.48% respectively to the annual consolidated turnover of Akzo Nobel India Limited for the financial year ended 31st March 2024
- Subject to necessary approvals
- Transaction amount is INR 20730 Million for Powder Coatings Business and INR 700 Million for International Research Centre