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Brent tops $116 as Iran tensions drag Wall Street lower Global money is bidding for India's biggest growth stories while leaving India’s index Beyond banks: AI layoffs spread to tobacco, chemicals and payments The AI debt bill comes due: neocloud bonds trade like distress Putin, Zelenskyy Back Three-Way US Peace Talks on Ukraine Apple’s first foldable, the iPhone Duo, goes on sale at around $2,200 Jio IPO sets a global record with 10 million+ applications on final day Kospi plunges 4% on AI jitters, yet SK seeks $350B for data centres Profits up, headcount down: AI in banking has moved from pilot projects to the payroll. IMF: Gulf economies to shrink 4.8% this year as war hits exports

Intelligence

Nippon Paint buys Akzo's Southeast Asia paints arm for $1.35B

After being rebuffed on an $8.4B bid, Japan's top paintmaker settles for a regional slice

News | 5 October 2026

Nippon Paint buys Akzo's Southeast Asia paints arm for $1.35B

Nippon Paint finally gets a piece of AkzoNobel, buying its decorative paints business across seven Asia-Pacific markets.

Nippon Paint Holdings said on Monday it agreed to acquire Akzo Nobel's decorative paints businesses in seven Asia-Pacific markets for $1.35 billion.

The deal covers Vietnam, Indonesia, Malaysia, Singapore, Thailand, Australia and Papua New Guinea, with full closing expected by mid-2027. T

he units generated $291 million of revenue and $65 million of EBITDA in 2025, a margin of about 22%.

Nippon had previously tried to buy Akzo's entire residential and commercial paints unit for $8.4 billion. It will pay with bank borrowings and cash rather than new shares.

Akzo, which is merging with Axalta, expects about $1 billion in net cash proceeds.