Azonobel Nears Sale of Southeast Asia Paint Unit

Reports indicate that the Dutch company AkzoNobel, owner of the Dulux brand, is close to selling its decorative paints business in Southeast Asia to the Japanese company Nippon Paint for more than one billion dollars. The deal encompasses the company's operations in several markets across the Asia-Pacific region, with the aim of focusing its activities on markets where it holds leading positions and exiting less competitive areas. This transaction is expected to strengthen Nippon Paint's presence in the Asian paints market as part of its expansion efforts through strategic acquisitions, although negotiations are still in the final stages and have not been officially announced. This move is part of AkzoNobel's broader strategy to reorganize its operations, separate from its plans to merge with American company Axalta to create a large global entity in the paints and coatings industry.

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