AkzoNobel Sells National Starch to Corn Products for $1.3 billion

AkzoNobel says it has agreed to sell its National Starch (Bridgewater, NJ) business to Corn Products International (Westchester, IL) for $1.3 billion in cash. In addition, the buyer will assume certain pension and employee benefit liabilities. The transaction, already approved by the boards of AkzoNobel and Corn Products, is expected to close at the end of the third quarter of this year, subject to the appropriate regulatory approvals. National Starch, a subsidiary of the former ICI, was taken over by AkzoNobel as part of its acquistion of ICI in January 2008...

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