AkzoNobel sells Specialty Chemicals to The Carlyle Group and GIC for €10.1B
October 1, 2018
10.00 Billion EUR
On March 27, 2018, Akzo Nobel N.V. (“AkzoNobel”) announced the sale of 100% of its Specialty Chemicals business to The Carlyle Group ("Carlyle") and GIC for €10.1 billion. The transaction is expected to be completed before the end of 2018.
AkzoNobel is a Dutch multinational company which creates paints and performance coatings and produces specialty chemicals for both industry and consumers worldwide. The sale of the Specialty Chemicals operation to Carlyle and Singapore’s GIC sovereign wealth fund will allow AkzoNobel to focus on its main paints and coatings business. The division being sold produces an array of chemicals used in plastic packaging, tissue paper, cleaning materials, pharmaceuticals, food products, salts and adhesives.
The Carlyle Group is an American multinational private equity, alternative asset management and financial services corporation.
McCarthy Tétrault LLP is advising AkzoNobel and Carlyle on competition matters with a team led by Jason Gudofsky that includes Kate McNeece.