Nippon Paint Holdings has agreed to acquire AkzoNobel's decorative paints operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia at an enterprise value of about $1.35 billion. AkzoNobel expects roughly $1 billion in net cash proceeds after taxes and payments to minority partners, with the valuation equating to 21 times fiscal 2025 EBITDA. Indonesia is expected to close in late 2026, while the other transactions are targeted for mid-2027, subject to regulatory and customary closing conditions. AkzoNobel will retain its coatings activities and global business services organization after completing its Asian decorative paints portfolio review, following earlier sales in India and Pakistan, and will focus on its planned merger with Axalta Coating Systems.