Tokyo-listed Nippon Paint Holdings is buying Akzo Nobel’s decorative paints business in Southeast Asia for $1.35 billion, nearly three months after its offer to take full control of the maker of Dulux paints was rejected.
The deal gives Nippon Paint—controlled by the family of late Singaporean billionaire Goh Cheng Liang—access to Akzo’s operations across Indonesia, Malaysia, Singapore, Thailand, Vietnam, Papua New Guinea and Australia. The transactions are expected to be completed in mid-2027, except for the sale of the Indonesia business, which is slated to close separately in late 2026. Shares of Nippon Paint rose as much as 1.7% in morning trading in Tokyo.
“We are excited to welcome these businesses and talented teams to our Group, with our shared ambition to create lasting value for our customers and partners,” Wee Siew Kim, co-president of Nippon Paint, said in a joint statement. “We look forward to building on the strong foundations established by Akzo Nobel, while continuing to deliver the quality, experience and local expertise that customers have come to value.”
Source: https://www.forbes.com/sites/ardianwibisono/2026/10/05/japans-nippon-to-buy-akzos-southeast-asia-decorative-paints-business-for-135-billion/