AkzoNobel sells specialty chemicals business to Carlyle, GIC for $12.57 bln

AkzoNobel said March 27 that it is selling its specialty chemicals business to Carlyle Group and GIC for 10.1 billion euros ($12.57 billion). The deal will create two businesses, paints and coatings, and specialty chemicals. AkzoNobel said net proceeds are expected to be around 7.5 billion euros.

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