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Kansai Paint Co., Ltd. has issued a statement announcing that it has signed a deal to sell its Africa business to Akzo Nobel N.V, a global paints and coatings company.
Kansai Paint Co., Ltd. has issued a statement announcing that it has signed a deal to sell its Africa business to Akzo Nobel N.V, a global paints and coatings company.The deal is expected to be completed in 2023 once it receives the regulatory approvals of the relevant authorities
AkzoNobel, listed on the Euronext Amsterdam is a global leader in the business, It has a presence in more than 150 countries employing about 33,000 people globally. In 2021 the sales of the company stood at approximately € 9.6 billion.
Speaking about the proposed acquisition, Thierry Vanlancker, Chief Executive Officer and Chairman of the Board of AkzoNobel said that Kansa it will help the company to further expand its paints and coatings business in Africa and boost its future growth. He was confident that the deal will result in a wider range of innovative products and more sustainable solutions for customers. Kansai Paint Africa was hailed as a value addition to their existing strong business which spans across 9 countries in the region.
Also read; https://trendsnafrica.com/
