Paints company Akzo Nobel India will start exploring the potential sale of its powder coatings business as well as the R&D operations to a separate, indirect wholly-owned arm - Akzo Nobel NV, as requested by parent entity.
The board of Akzo Nobel India authorised the management to start exploratory steps for the 'potential transactions', and further considerations will be needed from the board 'at the relevant point in time'.
"The Board of Directors of the company, at its meeting held on January 6, 2025, took note of the above said and authorised the company's management to commence exploratory steps as may be required to evaluate and examine the aforesaid potential transactions," the filing by Akzo Nobel India said.
The board of Akzo Nobel India also informed that it has been asked to start the process of potential acquisition of intellectual properties under the decorative paints business that are currently owned by Akzo Nobel NV.
Akzo Nobel India is a multi-national company into the manufacturing and marketing of paints, coatings, and specialty chemicals. It operates as a subsidiary of Akzo Nobel NV, headquartered in the Netherlands.
In India, Akzo Nobel is well-known for its Dulux brand, offering premium interior and exterior paints, along with emulsions, enamels, primers, and other decorative coating material.
Akzo Nobel India is present in a wide range of paints and coatings segments, including decorative paints, automotive and speciality coatings, industrial coatings as well as powder coatings.
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