Akzo Nobel Completes On Sale To Henkel Amsterdam The

akzo nobel completes on sale to henkel amsterdam, the netherlands, april 3, 2008 — akzo nobel n.v. has today completed the on sale of the

Akzo Nobel Completes On Sale to Henkel
Amsterdam, the Netherlands, April 3, 2008 — Akzo Nobel N.V. has today
completed the on sale of the Adhesives and Electronic Materials
businesses, part of the former ICI’s National Starch business, to
Henkel KGaA for GBP 2.7 billion (EUR 4 billion) in cash.
The agreement with Henkel for the on sale of the two businesses was
announced by Akzo Nobel in its offer for the ICI Group in August 2007.
The transaction was subject to the completion of Akzo Nobel’s
recommended offer for ICI and clearance by relevant anti-trust
authorities. Both conditions have now been met.
“I am pleased that the sale has been concluded so rapidly, just three
months after the ICI acquisition, and we are confident Henkel will
further develop these strong businesses,” said Akzo Nobel CEO Hans
Wijers. “The on sale allows Akzo Nobel to focus on its core businesses
and we are making good progress with integrating the ICI and Akzo
Nobel organizations.”
Akzo Nobel will provide an update on the integration at the Annual
General Meeting of Shareholders, being held on April 22, 2008. Added
Wijers: “We will keep up the pace and the positive energy, and build
the enlarged group into one of the world’s leading and most respected
industrial companies.”