AkzoNobel completes sale of Specialty Chemicals

Dutch member company Akzo Nobel N.V. this week completed the sale of their Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion.

Charles Shaver, CEO of Specialty Chemicals, said: "I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle and GIC to deliver long term success."

Martin Sumner and Zeina Bain, Managing Directors at The Carlyle Group, added: "We are excited to invest in Specialty Chemicals and we are committed to growing the business and continuing to enhance its competitive position”.

More information can be found on the AkzoNobel website.