AkzoNobel and Axalta secure European Commission conditional clearance
- European Commission granted conditional approval for the proposed all-stock merger of equals.
- AkzoNobel will divest its European vehicle refinish business to remove horizontal overlap in the EEA, UK and Switzerland.
- The combined company is expected to generate approximately $17 billion in revenue across Powder, Aerospace, Refinish, Mobility, Marine and Protective, Industrial and Decorative Coatings.
- Transaction is expected to close in early 2027 subject to pending regulatory approvals; Greg Poux-Guillaume will serve as CEO and Chris Villavarayan as Deputy CEO.
Regulatory approval and remedy
AkzoNobel and Axalta received conditional approval from the European Commission for their proposed all-stock merger of equals after agreeing a targeted remedy: the divestment of AkzoNobel’s European vehicle refinish business. The commitments address the Commission’s preliminary competition concerns by removing the horizontal overlap in the European Economic Area, UK and Switzerland, and no other competition issues were identified in other markets.
Scale and scope
The combination will create a global coatings company with approximately $17 billion in revenue and a broad portfolio spanning Powder Coatings, Aerospace Coatings, Refinish, Mobility, Marine and Protective Coatings, Industrial Coatings and Decorative Coatings.
Timing and leadership
The transaction is expected to close in early 2027, subject to pending regulatory approvals. Greg Poux-Guillaume will serve as CEO of the combined company and Chris Villavarayan as Deputy CEO; both executives said the approval is an important milestone as they prepare to integrate technologies, teams and capabilities to serve customers globally.
Source: AkzoNobel