Akzo Nobel N.V. has agreed to sell up to 75% of its stake in Akzo Nobel India Limited to JSW Group for approximately €1.4 billion. The deal covers AkzoNobel’s liquid paints and coatings business in India, including global brands like Dulux, International, and Sikkens.
This move is part of AkzoNobel’s global portfolio strategy to focus on core markets. The company will retain its India Powder Coatings business and International Research Center.
JSW Paints, led by Parth Jindal, sees this acquisition as a major step in expanding its footprint in India’s growing paints sector. AkzoNobel expects around €900 million in net proceeds, with €500 million allocated for debt reduction and €400 million for a share buyback.
The transaction, pending regulatory approvals, is expected to close by Q4 2025.