AkzoNobel completes sale of chemicals arm to Carlyle Group, Singapore’s GIC

Akzo Nobel
FILE: An employee handles empty Dulux paint pots on the production line at Akzo Nobel NV's new paint factory in Ashington, U.K., on Tuesday, Sept. 12, 2017. Photographer: Chris Ratcliffe/Bloomberg

Dutch paint maker AkzoNobel N.V. has announced that it has completed the sale of its specialty chemicals business to The Carlyle Group, and Singapore’s sovereign wealth fund GIC for an enterprise value of €10.1 billion ($11.7 billion).

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