Akzo Nobel India Ltd Considers Strategic Sale and Acquisition Moves

Akzo Nobel India Ltd's board has approved exploring the sale of its powder coatings business and R&D operations to its parent firm's subsidiary. The company will also evaluate acquiring decorative paints intellectual properties. These actions are subject to further board deliberation and regulatory compliance.

Paints and coatings giant Akzo Nobel India Ltd announced plans to explore the sale of its powder coatings business and R&D operations to a wholly-owned subsidiary of its parent company, Akzo Nobel NV. This step follows a request from the parent entity, highlighting a strategic shift within the organization's structure.

In an official filing, Akzo Nobel NV has asked the board of its Indian arm to initiate exploratory actions towards potentially selling its powder coatings division and international research center. Additionally, the company seeks to explore acquiring decorative paints intellectual properties from the parent firm.

The board of Akzo Nobel India, at its recent meeting, authorized management to commence necessary steps to evaluate these potential transactions. However, it emphasized that any final decisions will depend on further detailed analysis and adherence to legal procedures. Akzo Nobel India maintains a diverse portfolio across various coating and paint segments.

(With inputs from agencies.)