AkzoNobel and Axalta assess UK merger review findings
- The CMA’s Phase 1 assessment identified concerns solely in UK vehicle refinish coatings.
- The proposed remedy is the divestment of AkzoNobel’s European vehicle refinish coatings business, including its UK business.
- The companies say they are aiming to complete the merger by early 2027.
- The combined company would have approximately $17 billion in revenue.
CMA review and proposed remedy
The UK Competition and Markets Authority’s Phase 1 assessment of the proposed AkzoNobel–Axalta merger identified competition concerns only in the supply of vehicle refinish coatings in the UK. The companies are considering the decision and plan to propose the same remedy package included in the European Commission’s decision.
AkzoNobel and Axalta have agreed with the European Commission to divest AkzoNobel’s European vehicle refinish coatings business, including its UK operations. They will continue discussions with both the Commission and the CMA on the package.
Merger timeline and scale
The companies remain confident the merger will be completed by early 2027. They say the combination would create a coatings company with approximately $17 billion in revenue and portfolios spanning powder, aerospace, refinish, mobility, marine and protective, industrial, and decorative coatings.
Source: AkzoNobel