Nippon Paint Holdings is buying AkzoNobel's decorative paints business in Southeast Asia for $1.35 billion after earlier bids for the whole unit were rejected. Closing is targeted by mid-2027.
Nippon Paint Holdings is buying AkzoNobel's decorative paints business in Southeast Asia for $1.35 billion, the Japan Times reported, citing Bloomberg. The deal covers a regional slice of a business Nippon Paint had tried to buy in full.
Japan's largest paint company previously sought Akzo's entire residential and commercial paints unit for €7.5 billion, about $8.4 billion. Akzo rejected those approaches. The new transaction spans Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia.
Nippon Paint said the purchase will add to profits once it is completed, with closing aimed at mid-2027. Akzo values the deal at 21 times 2025 Ebitda. Nippon Paint puts the multiple at about 16 times projected 2026 Ebitda. The rejected bid for the whole decorative division implied about 11.5 times 2025 Ebitda, the Japan Times said.
The story is a company announcement carried by Bloomberg and the Japan Times. Regulatory approvals and the precise asset perimeter were not detailed beyond the seven-country list.
For Nippon Paint the purchase is a partial win after the larger approach failed. For Akzo it is a regional sale rather than a full exit from decorative paints.