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BRIEF-Akzo Nobel To Sell Specialty Chemicals To Carlyle Group And GIC For 10.1 Billion Euros [Reuters]

Akzo Nobel NV ADR # (AKZOY)  More Company Research Source: Reuters
US:NASDAQ Investor Relations: akzonobel.com/for-investors/shares/adr
PDF BRIEF-Akzo Nobel To Sell Specialty Chemicals To Carlyle Group And GIC For 10.1 Billion Euros | Reuters Reuters Staff 1 Min Read March 27 (Reuters) - AKZO NOBEL NV: * TODAY ANNOUNCES THE SALE OF 100% OF ITS SPECIALTY CHEMICALS BUSINESS TO THE CARLYLE GROUP AND GIC FOR AN ENTERPRISE VALUE OF €10.1 BILLION? * KEY MILESTONE IN CREATING A FOCUSED, HIGH PERFORMING PAINTS AND COATINGS COMPANY * TRANSACTION IS EXPECTED TO BE COMPLETED BEFORE END OF 2018 * THIS TRANSACTION CREATES TWO FOCUSED AND HIGH PERFORMING BUSINESSES - PAINTS AND COATINGS, AND SPECIALTY CHEMICALS * ?ON BASIS OF YEAR-END BALANCE SHEET, AKZONOBEL EXPECTS TO RECEIVE A CASH PAYMENT OF EUR 8.9 BILLION * FOLLOWING DEDUCTION OF DEAL AND SEPARATION RELATED COSTS, AS WELL AS OTHER PREVIOUSLY ANNOUNCED LIABILITIES, THE NET PROCEEDS ARE EXPECTED TO BE AROUND €7.5 BILLION * THE VAST MAJORITY OF NET PROCEEDS WILL BE DISTRIBUTED TO SHAREHOLDERS Source text for Eikon: Further company coverage:, (Gdynia Newsroom) All quotes delayed a m [Read more]

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