1 December 2012

AkzoNobel divests its North American Decorative Paints business

De Brauw Blackstone Westbroek has acted as lead counsel to AkzoNobel in advising it on the divestment of its North American Decorative Paints business to PPG Industries for USD 1.05 billion.

The divestment is a strategic choice to focus AkzoNobel's Decorative Paints Business on key markets in Europe and its strong positions in high growth regions.

AkzoNobel Decorative Paints in North America has around 5,000 employees and operates 8 manufacturing sites. It has a number of successful brands, including Glidden in the US and Sico in Canada.

Dieter Wolff, lead partner: "Our role as lead counsel in this matter exemplifies our strategy to follow our clients across the globe and represent them in their M&A activities and other matters. The matter required a tremendous team effort. It was a privilege and pleasure working together with the client's highly professional and dedicated M&A team".

Team: Dieter Wolff, Ton Schutte, Okke Suurenbroek, Jan Pieter Hustinx, Michelle Schilperoort, Paul Sleurink, Erik Pijnacker Hordijk.