WASHINGTON (dpa-AFX) - Akzo Nobel N.V. (AKZOY, AKZA.AS) and Axalta Coating Systems Ltd. (AXTA) announced that they received conditional approval from the European Commission for their proposed all-stock merger of equals, marking a key milestone toward completing the transaction expected in early 2027, subject to remaining regulatory clearances.
To address competition concerns raised during the review process, the companies agreed to divest AkzoNobel's European vehicle refinish coatings business. The remedy is designed to eliminate the overlap between the companies' operations in the European Economic Area, the United Kingdom and Switzerland.
The European Commission identified no other competition issues across the companies' businesses or geographic markets. The companies said the divestment commitments fully address the regulator's preliminary concerns while preserving competition and customer choice in the European vehicle refinish coatings market.
The merger, announced in November 2025, will create a global coatings company with an enterprise value of about $25 billion. Under the agreement, Axalta shareholders will receive 0.6539 AkzoNobel shares for each Axalta share held. Upon completion, AkzoNobel shareholders are expected to own approximately 55% of the combined company, with Axalta shareholders holding the remaining 45%.
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