Arnhem, the Netherlands -- AkzoNobel acquired Nippon Paint's 25 percent minority shareholding in their joint venture company in Europe, Akzo Nobel Nippon Paint Holding BV.
The former 75/25 joint venture - which was first established in 1993 between Courtaulds and Nippon Paint - involved the manufacture and sale of coil coatings in the greater European region.
The transaction, announced 8 Dec., will take AkzoNobel's shareholding in the company to 100 percent and will allow the merger of the company and its subsidiaries into the AkzoNobel group.
Financial details were not disclosed.
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