Akzo Nobel has signed an agreement to sell its shareholding in Akzo Nobel India Limited (ANIL) to the JSW Group, one of India’s largest industrial conglomerates. The deal, valued at approximately EUR 1.4 billion, includes Akzo Nobel’s liquid paints and coatings business in India. This divestment is the first major step following Akzo Nobel’s portfolio review announced in October 2024. The acquisition is intended to create a future-oriented coatings business built on both JSW’s local knowledge and Akzo Nobel India’s established market presence. Akzo Nobel expects net cash proceeds of around EUR 900 million, with approximately EUR 500 million to be used for deleveraging.