Akzo Nobel India shares up over 1%; company to sell powder coatings, R&D businesses; 5 things to know

The filing added that each Business Transfer Agreement will be executed after receipt of

(i) approval of the audit committee, board of directors, and shareholders of the company; and

(ii) approval of the supervisory board of Akzo Nobel N.V.

Expected date of completion of sale/disposal

Each slump sale transaction is expected to be completed on or before December 31, 2025, subject to receipt of shareholders, regulatory, statutory, and other approvals, as may be applicable.

A slump sale means the sale of an entire business as a going concern, with all assets & liabilities in one go. Simply put, a slump sale means the transfer of one or more divisions of a company/undertakings for a lump sum consideration rather than assigning value for all individual assets.

Financial details of the divisions

For the financial year ended March 31, 2024, the Powder Coatings and International Research Centre (R&D) divisions have contributed as follows to the annual consolidated turnover of Akzo Nobel India Limited (amounting to ₹3936.68 crore) for the financial year ended March 31, 2024.

For the financial year ended March 31, 2024, the Powder Coatings and International Research Centre (R&D) divisions have contributed as follows to the net worth of the company (amounting to ₹1,329.2 crore) for the financial year ended March 31, 2024.

Akzo Nobel India share price trend

Shares of Akzo Nobel India have gained over 21% in the past 12 months.