EU Clears AkzoNobel-Axalta Merger With European Business Divestiture
Conditional approval advances the all-stock merger, but the companies must sell AkzoNobel’s European vehicle refinish business.
Key takeaways
- The European Commission gave conditional approval to the proposed merger of equals.
- AkzoNobel agreed to divest its European vehicle refinish business.
The European Commission has conditionally approved AkzoNobel and Axalta’s proposed all-stock merger of equals. The companies agreed to sell AkzoNobel’s European vehicle refinish business to address the Commission’s competition concerns.
The companies said the divestment removes overlap in the European Economic Area, the UK and Switzerland. They said no other competition issues were identified in other markets.
The deal is expected to close in early 2027, subject to pending regulatory approvals. The companies say the combined business would have about $17 billion in revenue.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
