The Carlyle Group and GIC completed the acquisition of Specialty Chemicals from AkzoNobel for €10.1bn

AkzoNobel, a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide, sold 100% of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1bn. This transaction creates two focused and high performing businesses – Paints and Coatings, and Specialty Chemicals – as part of its strategy announced in April 2017. The Board of Management and the Supervisory Board concluded that a private sale to The Carlyle Group and GIC is in the best interests of AkzoNobel, Specialty Chemicals and its respective stakeholders, including employees, shareholders and customers.