AkzoNobel to begin portfolio review with initial focus on Deco South Asia

AkzoNobel is conducting a strategic review of its portfolio in order to redeploy capital towards growing its core coatings businesses.

The initial focus will be on its decorative paints positions in South Asia. AkzoNobel has a premium, highly profitable position in India in particular, with a strong track record of growth. Given this unique market position, the company is well-placed to participate in the further development of the highly dynamic South Asian decorative paints market, which is ripe for consolidation.

The review will explore various strategic options ranging from partnerships or joint ventures through to mergers or divestments.

Says AkzoNobel CEO, Greg Poux-Guillaume: "Our focus on enhancing our coatings businesses globally is underpinned by a strong portfolio of high-performing brands and technologies. This strategic review represents a key step towards focusing our portfolio on positions of differentiating scale in key coatings markets, which will help to accelerate our profitable growth."

Shares of Akzo Nobel India Limited was last trading in BSE at Rs. 3817.60 as compared to the previous close of Rs. 3820.00. The total number of shares traded during the day was 2593 in over 584 trades.

The stock hit an intraday high of Rs. 3860.00 and intraday low of 3655.95. The net turnover during the day was Rs. 9692926.00.

Source : Equity Bulls

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AkzoNobelIndia INE133A01011 StrategicReview Portfolio