AkzoNobel sells Asian paint operations to Nippon Paint
The sale is expected to raise $1.35 billion, according to AkzoNobel, and concludes a strategic review of its Asian operations.
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AkzoNobel is selling its decorative paint operations in Southeast Asia to Japan’s Nippon Paint for $1.35 billion. The transaction includes businesses in Vietnam, Indonesia, Malaysia, Thailand, Singapore and Australia.
AkzoNobel has reached an agreement with Nippon Paint on the sale of its Southeast Asian decorative paint operations, according to Reuters. The deal covers operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia. Nippon Paint is a Japanese producer of paints and coatings.
The announced sale price is $1.35 billion. AkzoNobel expects to retain about $1 billion in net proceeds after taxes and payments to minority shareholders. The transaction will not be completed all at once: according to the company, the Indonesian part is due to close separately at the end of 2026, while the remaining operations are expected to follow around the middle of 2027.
With the sale, AkzoNobel is concluding a portfolio review of its Asian decorative paint operations. The Dutch company announced the review at the end of 2024. In its 2025 annual report, AkzoNobel wrote that it wanted to free up capital for activities in which the company has greater scale and a stronger market position.
The sale is part of a series of divestments. In 2025, AkzoNobel had already sold all its Indian operations to India’s JSW Group. According to the annual report, the total proceeds from that transaction were about €900 million. In September, the company also announced that the sale of AkzoNobel Pakistan to Packages Group had been completed.
For Nippon Paint, the transaction offers expansion in markets where it is already active. For AkzoNobel, it means further concentration on the parts it regards as core activities. The company is also focusing on the proposed merger with US-based Axalta, a combination already approved by shareholders but still requiring further completion and approval.
The short-term consequences for Dutch consumers are unclear. The sources report no immediate change in prices, brands or supplies in the Netherlands. Nor has it been announced what the sale means for staff in the countries concerned. Until the transactions have closed, the activities concerned remain part of AkzoNobel.
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The article’s central claim is confirmed by Reuters on the basis of a statement from AkzoNobel. The strategic context and earlier divestments were checked against official company documents.
- confirmed AkzoNobel is selling its Southeast Asian decorative paint operations to Nippon Paint. — Reuters reports that AkzoNobel announced the sale. source
- confirmed The sale price is $1.35 billion. — This figure appears in the Reuters report. source
- confirmed The sale includes, among others, Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia. — The countries are listed in the Reuters report. source
- confirmed In 2025, AkzoNobel sold its Indian operations for about €900 million. — This is stated in the official 2025 annual report. source
- confirmed The sale is part of a broader review of the Asian portfolio. — AkzoNobel described the portfolio review in its official communications. source
Editor's note
The sale price, countries involved and planned closing dates are based on Reuters, which cites a statement from AkzoNobel. The strategic background and earlier sale in India were checked against official AkzoNobel documents; the consequences for Dutch employees and consumers are unknown.Sources
- AkzoNobel to sell Southeast Asia paints business to Nippon Paint for $1.35 billion — Reuters via Investing.com
- AkzoNobel confirms receiving offers from Nippon Paint for its Decorative Paints business — AkzoNobel
- Annual report 2025 — AkzoNobel
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