IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Akzo to Sell Decorative Paints in Canada

4:51 AM MDT | June 16, 2008 | Kerri Walsh

AkzoNobel has agreed to sell its Para and Crown Diamond decorative paints brands in Canada to General Paint (Vancouver, BC). Financial terms of the deal were not disclosed. The transaction is part of Akzo’s agreement with the Canadian authorities concerning Akzo’s purchase of ICI in January. The deal is expected to close June 30. The Crown Diamond brand is not connected to Akzo’s Crown brand decorative paint, the company says. The sale of Para and Crown Diamond is one of three divestments Akzo will make to satisfy regulatory authorities in North America and...

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