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AkzoNobel confirms sale of paint stores in Germany

1:37 AM MST | December 12, 2013 | Deepti Ramesh

AkzoNobel says it has agreed to sell 67 of its 72 decorative paints stores in Germany to five independent wholesale distributors — Schlau Hammer, MEG Rhein Ruhr, MEG Paderborn, MEG West, and Weigel. Financial details of the deal were not disclosed. AkzoNobel had announced in June 2013 that it intends to sell its decorative paints stores in Germany. Of the remaining five stores, three will be closed, while the sale of the other two is expected to be finalized by the end of this month, the company says. As a result of the transactions, all related assets and...

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