De Brauw assisted Akzo Nobel N.V. on the sale of its shareholding in Akzo Nobel India Limited ("ANIL") to the JSW Group, one of India's leading diversified conglomerates. The transaction is based on a total enterprise value of approx. EUR 1.4 billion and includes AkzoNobel's liquid paints and coatings business in India. The India Powder Coatings business and International Research Center, both currently part of ANIL, will be retained by AkzoNobel under full ownership.

The transaction involves the sale of up to 75% of shares in ANIL, and is subject to customary closing conditions, including regulatory approvals. The transaction is expected to be completed in Q4 2025.