DutchNews.nl - DutchNews.nl brings daily news from The Netherlands in English

30 May 2025
Newsletter Donate Advertise
  • News
  • Life in the Netherlands
  • Jobs
  • Podcast
  • About us
  • Search
  • Home
  • Economy
  • Art and culture
  • Sport
  • Europe
  • Society
  • Environment
  • Health
  • Housing
  • Education
  • News
    • Home
    • Economy
    • Art and culture
    • Sport
    • Europe
    • Society
    • Environment
    • Health
    • Housing
    • Education
  • Life in the Netherlands
    • Latest
    • Opinion
    • Books
    • Travel
    • 10 Questions
    • Learning Dutch
    • Inburgering with DN
    • Food & Drink
    • Ask us anything
  • Jobs
  • Podcast
  • About us
    • Team
    • Donate
    • Advertise
    • Writing for Dutch News
    • Contact us
    • Privacy
    • Newsletter
  • Search

AkzoNobel to split up, reduce costs and hike payout

April 19, 2017
Photo: Akzo Nobel

AkzoNobel has reacted to the unsolicited takeover bid by US rival PPG Industries and is to assuage its own activist shareholders by announcing plans to hive off its special chemicals unit and using the proceeds from the sale to boost its dividend.

The besieged Amsterdam paint and coatings group said the sale of the chemicals unit or an IPO will take place within 12 months and that project teams are already in place.

AkzoNobel announced the plans at a meeting for analysts in London. ‘Now is the right time to create two focused, high-performing businesses. This strategy will create substantial value for shareholders with significant less risks and uncertainties compared to alternatives,’ chief executive Ton Büchner said.

Pittsburgh-based PPG has offered €22.4bn for the entire company.

AkzoNobel is also planning to reduce costs by an annual €150m while expenditure will decrease by another €50m a year once the chemicals division is sold off.  The company will invest €1bn in R&D over the next three years.

The company is proposing to increase its dividend by 50% to €2.50 per share in addition to a special dividend worth €1bn in November.

Share this article
  • Facebook
  • Twitter
  • LinkedIn
  • Reddit
  • Copy URL
Economy
Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation
Latest
Show more
Amsterdam "too arrogant" to be most popular city: survey
Two-thirds of Dutch businesses face staff shortages
Artist Bas Kosters on the serious business of creating joy
Sober and out of pocket: nearly €14 for two 0% beers
Warm end to May, slightly cooler start to meteorological summer
NewsHomeEconomyArt and cultureSportEuropeSocietyEnvironmentHealthHousingEducation
Life in the NetherlandsLatestOpinionBooksTravel10 QuestionsLearning DutchInburgering with DNFood & DrinkAsk us anything
About usTeamDonateAdvertiseWriting for Dutch NewsContact usPrivacyNewsletter
© 2025 DutchNews | Cookie settings

Help us to keep providing you information about coronavirus in the Netherlands.

Many thanks to everyone who has donated to DutchNews.nl in recent days!

We could not provide this service without you. If you have not yet made a contribution, you can do so here.

The DutchNews.nl team

Donate now

Dutchnews Survey

Please help us making DutchNews.nl a better read by taking part in a short survey.

Take part now