AkzoNobel closes sale of Specialty Chemicals to The Carlyle Group and GIC for an enterprise value of €10.1 billion, by chemwinfo

Thierry Vanlancker,

CEO of AkzoNobel

“Today is a key milestone in the history of AkzoNobel,

 creating a focused paints and coatings company,

 with market leading positions, strong global brands,

 and a clear strategy to create value for all our stakeholders.

“This is also an important step

 for the Specialty Chemicals business

 and I would like to take this opportunity

 to say thank you to our colleagues

 and wish them a successful future with Carlyle and GIC.”

Charles Shaver,

CEO of Specialty Chemicals

“I am delighted to assume my new role

 at Specialty Chemicals and look forward to

 working with the management team, Carlyle and GIC

 to deliver long term success.

 Specialty Chemicals has a strong global presence

 and a talented and dedicated team

 and I believe there is significant opportunity

 to drive additional growth through

 innovation and customer focus

 to build on the company’s leading positions in its markets.”

Martin Sumner and Zeina Bain,

Managing Directors at The Carlyle Group

“We are excited to invest in Specialty Chemicals

 and we are committed to growing the business

 and continuing to enhance its competitive position.

 Specialty Chemicals has a great heritage,

 a high quality asset base and workforce,

 an excellent track record of innovation

 as well as a diversified customer and product portfolio.

 We look forward to working with Charlie

 and the management team to support

 Specialty Chemicals as it embarks on

 a new phase as an independent company.”