BUZZ - Sale of Southeast Asia coatings business boosts AkzoNobel share price

October 5 - ** AkzoNobel (AKZO.AS) shares rose 2.2% after the Dutch paint manufacturer agreed to sell its Southeast Asian decorative paints business to Nippon Paint (4612.T) for $1.35 billion (link)

** The deal covers Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea, and Australia

** Akzo expects the sale will generate around $1 billion in net cash proceeds

** The transaction is valued at 21 times the business's 2025 EBITDA, and KBC Securities said this is "undoubtedly a positive surprise"

** KBC stated: "The sale of the Southeast Asian decorative paints business to Nippon Paint marks AkzoNobel's exit from the Asian decorative paints market, with the exception of China"

** The brokerage said that market attention will shift to the planned merger deal with Axalta, the US paint manufacturer (link), which is expected to be completed by the end of 2026 or early 2027

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