Akzo to Divest ICI’s Specialty Starches

Akzo Nobel has decided to sell ICI’s specialty starches business next year if Akzo’s £8.1-billion ($16.5 billion) acquisition of ICI is completed successfully, Akzo CEO Hans Wijers says. Akzo’s purchase of ICI is scheduled to close on January 2, 2008. “We have less value to add to the specialty starches business after we close the ICI deal,” Wijers told reporters last week in London. The specialty starches business reported first-half sales of about €390 million ($549.2 million) and an Ebitda margin of 17%. However, Akzo...

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