Akzo Nobel - 2018, november 13th
On last November, Akzo Nobel proposed the separation of the Specialty Chemicals business from Akzo Nobel through a private sale or a legal demerger. This resolution was 99.87% approved. On October 1, 2018, the Company successfully completed the separation of the Specialty Chemicals business from the Company to Carlyle and GIC.
The Board of Management and the Supervisory Board determined to return an aggregate amount of EUR 6.5 billion to the Company's shareholders. This EGM aims to approve one of the mean implemented for this return, i.e. the €2 billion Capital repayment and share consolidation.
This operation does not raise any concerns regarding long-term interests of shareholders.
Akzo Nobel N.V. is a holding company. Through its subsidiaries, Co. is engaged in the production and marketing of paints, coatings and specialty chemicals. Co. has three segments: Decorative Paints, which supplies products for the professional and do-it-yourself markets, including paints, lacquers and varnishes, as well as products for surface preparation; Performance Coatings, which is divided into the following businesses: Automotive and Aerospace Coatings, Industrial Coatings, Marine and Protective Coatings, and Powder Coatings; and Specialty Chemicals, which are used in products such as ice cream, soups, disinfectants, plastics, soaps, detergents, cosmetics, paper and asphalt.
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