AkzoNobel and Axalta End Merger Discussions
21 Novembre 2017 - 10:15PM
November 21, 2017
Akzo Nobel N.V. (AKZA; AKZOY)
On October 30th 2017, in response to market
speculation, AkzoNobel confirmed it was in constructive discussions
regarding a potential merger of the AkzoNobel Paints and Coatings
business with Axalta.
AkzoNobel and Axalta ended their discussions
without agreement.
AkzoNobel continues to focus on its strategy of
accelerating sustainable growth and profitability through the
creation of two focused, high-performing businesses and remains
committed to its 2020 financial guidance (15% ROS and >25%
ROI).
The separation of the AkzoNobel Specialty
Chemicals business and return of the vast majority of the net
proceeds to shareholders remain on track.
Thierry Vanlancker, CEO of
AkzoNobel, said: "I am confident that our strategy offers
significant value for shareholders and other stakeholders in the
short, medium and long term. We remain focused on our strategic
options to continue to develop our business and improve
profitability in the future."
This is a public announcement by
Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European
Market Abuse Regulation (596/2014). This public announcement does
not constitute an offer, or any solicitation of any offer, to buy
or subscribe for any securities.
- - -
About AkzoNobel
AkzoNobel creates everyday essentials to make
people's lives more liveable and inspiring. As a leading global
paints and coatings company and a major producer of specialty
chemicals, we supply essential ingredients, essential protection
and essential color to industries and consumers worldwide. Backed
by a pioneering heritage, our innovative products and sustainable
technologies are designed to meet the growing demands of our
fast-changing planet, while making life easier. Headquartered in
Amsterdam, the Netherlands, we have approximately 46,000 people in
around 80 countries, while our portfolio includes well-known brands
such as Dulux, Sikkens, International, Interpon and Eka.
Consistently ranked as a leader in sustainability, we are dedicated
to energizing cities and communities while creating a protected,
colorful world where life is improved by what we do.
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AkzoNobel
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AkzoNobel
Investor Relations |
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(0)88 969 7833 |
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(0)88 969 7590 |
Contact:
Diana Abrahams |
Contact:
Lloyd Midwinter |
Safe Harbor
Statement
This press release contains statements which address key issues
such as AkzoNobel's separation of its Specialty Chemicals business.
Such statements should be carefully considered, and it should be
understood that many factors could cause forecasted and actual
results to differ from these statements. These factors include, but
are not limited to, price fluctuations, currency fluctuations,
developments in raw material and personnel costs, pensions,
physical and environmental risks, legal issues, and legislative,
fiscal, and other regulatory measures. Stated competitive positions
are based on management estimates supported by information provided
by specialized external agencies. For a more comprehensive
discussion of the risk factors affecting our business please see
our latest annual report, a copy of which can be found on our
website: www.akzonobel.com.
PDF Media Release
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: AkzoNobel NV via Globenewswire
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