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AkzoNobel agrees sale of Canadian paints brands17 Jun 2008 -
AkzoNobel has agreed to sell its Para® and Crown Diamond® decorative paints brands in Canada to General Paint Corp. The sale is in line with the commitment package which was agreed with the Canadian authorities in connection with AkzoNobel's acquisition of Imperial Chemical Industries plc (ICI) in January.
General Paint is a decorative coatings manufacturer in Canada. Completion is subject to certain customary conditions and the approval of the Commissioner of Competition. No financial details were disclosed. The deal is expected to be completed on June 30.
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Akzo Nobel nv
Amsterdam, Netherlands
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General Paint Corp.
Vancouver, BC, Canada
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