- AkzoNobel completed the sale of Akzo Nobel India Limited to JSW Group.
- The transaction includes AkzoNobel's liquid paints and coatings business in India.
- AkzoNobel retains its India Powder Coatings business and International Research Center.
- The deal is valued at approximately €1.4 billion, with an EV/EBITDA multiple of 25x.
Transaction Completion
Akzo Nobel N.V. has finalized the sale of Akzo Nobel India Limited to the JSW Group, a major Indian conglomerate. This move is part of AkzoNobel's strategic portfolio review initiated in October 2024.
Business Details
The transaction involves AkzoNobel's liquid paints and coatings business in India. However, the company retains ownership of its India Powder Coatings business and the International Research Center, which remain integral to its global operations.
Financials
The deal is valued at approximately €1.4 billion, reflecting an enterprise value to EBITDA multiple of 25x.
Leadership Comments
Greg Poux-Guillaume, CEO of AkzoNobel, emphasized the strategic focus and long-term value creation resulting from the sale. Sajjan Jindal, Chairman of JSW Group, expressed enthusiasm for integrating AkzoNobel India into their operations, highlighting the opportunity to enhance the paints and coatings market in India.
