Akzo Nobel India Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 12, 2025.
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Akzo Nobel India has received approval from the Supervisory Board of its Dutch parent, Akzo Nobel N.V., for three related-party transactions originally announced via a Binding Offer Letter on February 24, 2025. These include: (1) sale of the Powder Coatings Business for a lump-sum cash consideration of Rs 2,073 crore to a newly incorporated Indian subsidiary of the parent, (2) sale of the International Research Centre (R&D) Business for Rs 70 crore, and (3) transfer of intellectual property rights for the decorative paints business (covering India, Bangladesh, Bhutan and Nepal) FROM the parent TO Akzo Nobel India for Rs 1,152 crore. Shareholders had already cleared these transactions via postal ballot on April 2, 2025, and the timeline for signing definitive agreements was previously extended to July 1, 2025. The Akzo Nobel India Board, at its June 12, 2025 meeting, has now taken the parent approval on record and authorized the management to sign definitive agreements and complete the deals.
The transactions sharpen Akzo Nobel India's focus on its core decorative paints business (Dulux) while monetizing non-core powder coatings and R&D units. Shareholders had already approved the deals, so this is largely a procedural milestone on the path to closing, with combined cash inflow of roughly Rs 1,222 crore and a corresponding cash outflow of Rs 2,143 crore between the company and its parent group.