Tuesday 16 August 2022

Four bidders line up for AkzoNobel’s chemicals arm

Photo: AkzoNobel

Amsterdam-based paints and coatings group AkzoNobel has confirmed there are four companies interested in buying its specialty chemicals unit, the Telegraaf quoted Bloomberg as saying on Wednesday.

German specialty chemicals concern Lanxess is among the four who are now entering the second round of bidding, Bloomberg said.

Akzo is selling off its chemicals unit, which is valued at about €10bn, in an effort to assuage shareholders after heading off a hostile takeover by PPG Industries last year.

Bloomberg said Lanxess was probably making a bid jointly with US investor Apollo.

Other interested parties include US hedge fund Carlyle and a consortium made up of Advent International and Bain Capital. Akzo Nobel would not comment on the bidders nor the progress of the talks, Bloomberg reported.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.