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AkzoNobel Sells U.K. Paints to Private Equity Firm

11:41 AM MDT | August 26, 2008 | Chemical Week Editorial Staff

AkzoNobel says it has agreed to sell its Crown Paints decorative paints business in the U.K. and Ireland to private equity firm Endless Investments (Leeds, U.K.). Akzo has also agreed to sell two Belgian paint brands to Rieu Investissements (Bondoufle, France), a producer of coatings. Akzo was required to sell the assets as a condition of the European Union antitrust authorities’ approval of the company’s takeover of ICI in January 2008. The Crown Paints transaction includes manufacturing and warehouse sites at Belfast, Darwen, Hull, and Warrington...

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