Akzo Nobel Gets $1.05B From PPG For N. American Paint Biz

Law360, New York (December 14, 2012, 12:00 AM EST) -- Dutch chemical firm Akzo Nobel NV has agreed to sell its North American decorative paints division to Pittsburgh-based PPG Industries for $1.05 billion, capping a four-year turnaround of the struggling business segment, the parties announced Friday.

Akzo Nobel will narrow its focus on Europe, while PPG plans to add the Akzo Nobel paint brands — which include Glidden and Liquid Nails — to the architectural coatings segment that it predicts will ride the coattails of the prolonged U.S. construction market recovery, according to parallel statements from...
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